When bids come back, pay close attention to outliers—if one contractor is way higher or lower than the others, that can indicate either padding or misunderstanding.

Begin by studying neighborhoods within your budget, focusing on key indicators like rental demand, vacancy rates, job growth, population trends, school quality, and crime statistics.

Was there a promissory note and mortgage/deed of trust or security agreement from the closing that indicates that your contribution was a loan secured by a lien a not a contribution of capital?

Obviously past results are not necessarily indicative of future performance, but it seems like a great investment for accredited investors to get a low-risk, solid return in exchange for some illiquidity.

That's a very big confirming stamp of approval on appreciation thesis when BlackRocks army of quants has indicated the same. 

Until I get an inspection I'm trying to be optimisticEach unit is a smaller 2/1, pictures indicate the bathrooms are pretty tight/narrow. 

All data was pulled via MLS sourcesSales Market OverviewMedian Sales Price in April 2025 reached $380,690, up 4.7% year-over-year.This follows a modest increase of 1.0% from 2023 to 2024, reflecting a positive upward trend in home values over the past two years.Rental Market TrendsActive Rentals rose from 111 to 127, marking a +14.4% increase, suggesting growing inventory and investor interest.Leased Properties declined 15.6% (from 956 to 807), indicating potential softening in immediate rental demand or longer leasing times.Average Monthly Lease Price increased 3%, from $1,896 to $1,953, showing continued upward pressure on rental rates.

A post indicated the OP was using conservative numbers.

However, I am not as clear to the first bullet, which it indicates that the property has to be previously owned by a sole owner for at least 12 months.

I do find it ironic that the numbers you provided above for San Diego that you indicated “isn’t going to cut it” was a 1.2% monthly rent to value ratio.