Sorry things havent worked out as you hoped and hopefully everything is ok with the family. Glad you recognize how good SD has been to you and will hold onto a couple beach rentals. I think those will serve you well and perhaps some day you will return. Holding onto those ensures that will always be a possibility for you and your family.
There will always be strong demand by the beach from high income individuals that don’t see themselves here long term. Unfortunately you seemed to have learned the hard lesson that reality doesn’t hold in East County. I’m sure its a big note and at much higher rates so better to cut your losses sooner than later rather than doubling down.
Also try not to forget what you learned in East County when you invest back in the Midwest. Rents and cap rates may look great in some spots but don’t forget the importance of tenant quality. Its better to sacrifice some return for sanity and peace of mind. Look for the sweet spots that balance both.
One last thing and a good reason to hold onto those OB props is places can look great as a visitor but different as a resident and your stay there could hit bumps also. Despite everything we put up with here we enjoy a great deal of social tolerance among our neighbors and a well educated populace. My good friend from Nashville always laughs when Conservative Californians move there to be his neighbor in Franklin where his family has been for generations. Its a nice upscale place but they quickly learn when they venture a little further out they don’t only live in Nashville, they also live in Tennessee. Those are two very different things
Hope everything turns out the way you want and dont be stranger. We’d love to hear of your successes there
