For context, this would be part of a 1031 exchange from a California SFR into these Fort Collins multi-family units.If anyone has navigated a similar situation, especially investors who’ve dealt with a listing brokerage owning the property, I’d appreciate your insight.

In 2015, the county was auctioning liens for overdue 2007 and 2008 county and city taxes, so all the available properties had at least 7 years of accumulated taxes.I had so many questions before the auction. 

Here are some key highlights from the report, which compares October 2025 with October 2024:The median sales price in the City of Austin increased slightly to $552,500 (up <1%), while the greater Austin metro rose 1.4% to $439,000, indicating modest year-over-year appreciation and continued stability.Closed sales were essentially flat in Austin at 786 transactions (up <1%), while the metro saw a 9.6% decline to 2,238.

You best bet is try to find local wholesalers in the city that you choose to buy in so you can just purchase discounted properties. good luck in your journey. 

Most cities treat this as a commercial use.4.

@Zac Janda Welcome to Twin Cities Investing.

In ca, SB1069 has been in existence 10 years.  

I like the city itself, but one thing I don't like is that I feel like there are no major demand drivers there other than Baylor.For some reason there are lots and lots of older homes that need help. 

I’m just starting out and have been studying the BRRRR model to see if it’s even realistic right now.I’ve got one property in California that’s paid off, and I’ve been exploring a cash-out DSCR loan as my entry point into scaling, but the math feels just like you described — once the new PITI hits, there’s barely any spread left.I’m trying to learn from people who’ve been through rate cycles before.

Read the articles.This is only one example from one city.