Scenario:  An off-market property owned by an foreign investor who's willing to offload it and quick sell with a way-under-market-price (in CA)Question: Would there be any tax related or any risks involved if the selling price is, let's say, 40% or even 50% under market average for the same type of property?  

Hey BP members,I'm exploring the idea of building a SFR in Los Osos / Cayucos area in the California Central Coast.

I'm a realtor in TN & CA and have some experience w/ 1031's.

Also interested in out of state investing if the CA market is too crazy.

My house is the lowest point on the property and though it hasn't rained since we moved here in April, neighbors have told us it can be an issue during heavy rains.  All the surrounding lot is dirt and most of it slop...

This past June the Air Force sent me to Beale AFB, California (Yuba City, Plumas Lake, Marysville area, north of Sacramento).

I have my primary residence in California.

  (3) No location preference at this time, but I think part of the tax qualification involves some level of self management, at least to part of the portfolio (clearing that up with my CPA in one week) so I'll do one CA property at least. 

Hopefully a quick question here… I am looking to self manage our 2 vacation rentals in Paso Robles, CA.

I am a new, but quite serious investor in the Southern California area.