Your gain will be determined on several factors. Those who purchased in 2010 have equity gain. Cash flow is another story.
Also, do you live locally or are you from out of the area? Will you be paying a property manager?
So many questions, I know.
Richard G.Matusich Realtor DRE#00358728
As an active investor myself I have learned that it is very tough in the Bay Area to find a great investment property that produce a great return without being speculative.
There are some great areas outside the Bay that are now realizing the shift in the market yet prices are still relatively low. These are the best areas for cash flow and buy and hold scenarios right now. If you are looking to flip on a short term basis that is a different ball game.
I would rather not suggest an area until I know your game plan, budget and exit strategy.
I'm open to talking with you in person/email if you would like to talk about strategy and best practice.