G'Day Luka,I'm not a fan of out of state BRRRR.It's hard enough for us on the ground to get rehabs done on time and on budget and I don't even want to think how difficult, expensive and time consuming it would be for out of state investors.And then include a high LTV and that can be a portfolio killer IMO.Hat's off to you mate for grabbing the bull and jumping in.You live, you make mistakes, you learn and you grow.Such is life.Building a large portfolio is an absolute must when investing in sub $100,000 properties in Ohio.I "killed" my business by not wanting to sell to investors that are using leverage.Our sales volume could increase by 70-80% but it is what it is.I just don't believe in it or want the hassle associated with it lolReason is mostly two fold:1) Not in the mood to deal with lenders for 2 months and hope the deal will go through.2) I don't believe that investors should use high LTV when building the foundation of their portfolio.My advice to you:1) Pay them off as quickly as you can.2) Build a larger portfolio.The investors that $#@% the most on my name are the ones that buy 1 or 2 properties and expect miracles.As you said, 1 furnace goes out or a sewer line needs repaired and bye bye cashflow for 2 years.We get blamed although we can't predict to fix certain things and there are just many unknowns with all investments.Our happiest investors are the ones that own 6-7 or even 10+ properties and all with cash and no leverage.They aren't worried about turns or tenant issues that occur on 1 or 2 properties as it's just the nature of the beast.Returns vary but across the board over the last 10 years I have seen 6-10% net ROI's year after year.Building a large portfolio is a must to minimize risk and to get the best possible long term ROI.Thanks 

What I would not do is 1031 and sell your California properties (I assuming they're in the Modesto/Merced area) and buy in an unknown market 2000 miles.

As prevalent as syndication seems to those in the space, it is still fairly unknown to the masses. 

(If the appreciation happens...)However, you shouldn't be planning based upon unknowns - meaning appreciation.

Whether or not it will be 24% of the $10k is unknown, it depends on a lot of factors.

Security deposit deduction is a last resortYou can deduct it at move-out if allowed by state law, but:– That assumes the tenant leaves– You’re tying up capital for an unknown timeline– You still carry the risk of disputeIt’s a backup, not a strategy.5.

A lot of unknowns to really give any type of response that could be used constructively.

Now, I have a multiunit in Chicago that we live in, and will be looking for the next one in the near future.With respect to your question though, some poeple get stuck in analysis paralysis or just have a fear of succeeding, or of the unknown, however irrational that may be.

And the unknowns of a build, as you point out, are also hard to gauge.

@Lawrence Barnes It's possible but there are too many unknowns for me to say for sure.