:I am struck by the difference between what a lot of the people writing here did/are doing and the common pattern we see people new to real estate so frequently ask about here on BP (but also locally for me here, in Allegheny County where the 'Burgh is, median home value $214K).

But the downtown area is getting built up with the New South End bars and restaurants going in, the new ice rink, the new lacrosse stadium and higher end apartments and hotels.

New construction windows require new trim inside and out, an applied ice and water protection and or a rubber flashing and will need a fresh coat of paint inside and out at completion of installation.   

I couldn't agree more on the ice makers.

I don't have grand delusions about starting with nothing and retiring in 3 years because I struck some magical deal.

Tenant perspective: When I moved in to my last rental, I noticed 2 issues right away: 1 - the freezer was not working (I would fill ice trays at night and they'd still be liquid in the morning); and 2 - there were some cracked/loose tiles on the bathroom floor.

I'm continuing to run my numbers assuming values will just keep up with inflation, and if I end up buying something then any extra appreciation would just be icing on the cake. 

If I were in your shoes, I'd first try to just pay the tresspasser cash to leave (I'd then ice my bruised ego later), and if that doesn't work then talk with an eviction attorney and see if he/she has any ideas.

When a downturn hits, I expect all of SF housing to take a hit, with Oakland included in there.Definitely agree that appreciation is icing on the cake and that cash flow should be the priority.

When you have a place like Indianapolis that already has a thriving market for both flips and holds the prospect of Amazon is just the icing on the cake.