My concerns are laying the whole $130 upfront and it being a co-op..my mind is telling me its not a smart investment for some reason.. with either renting or resale... what are your thoughts?

My main question is, will the tax go back down if it was already increased during those first years of owning the house as a rental?

Might be hard to say the carriage house is worth as much as the main house.

The reason I say this is because single family is likely harder to get because you are going up against regular home buyers and investors.

I'm hoping to gather insights from those who've walked this path before.Does this deal seem reasonable for a first-time investor like me?

There have been times where a market experiences a jump in rent like that, but it is not reasonable to estimate that level of rent growth.

Take a deep breathe, dedicate some time to come up with a plan that has reasonable solutions to the problems encountered (bad smell, necessary rehabs, new tenant) and execute. 

@Karim Baker$150/sf is reasonable for San Diego given you have no major plumbing or foundation issues. 

I also take the first reasonable offer and move on... for vacant land it's not worth waiting another 3 months for a better offer normally.  

And what are your reasons for adding your kids to tile?