Hi everyone, 

I am a first time home buyer and am looking to invest in my first rental property. I live in the Bay Area but the housing price doesn't quite seem to justify any investment option. A friend of mine introduced me to some of the areas that are close to LA, such as Irvine and Rancho Cucamonga. As I am starting to know this area, I am also wondering if I can seek any advice from you to in terms of purchasing a home. I am fairly flexible in regards to the down payment as long as the investment makes sense (with good ROI), so anywhere from 30k - 100k would be acceptable range for me.

Some of the more specific questions I have are:

1. Which area do you prefer Rancho, Irvine or other places. 

2. Would it be difficult to manage if I live in the Bay and the property is in Southern California. 

3. Is this a good market or too hot of a market to enter. 

4. What would be an expected cash flow/return on investment I can look for with low maintenance. 

5. What is the expected vacancy period in the area. 

Sorry for such a generic laundry list of questions but feel free to leave a stream of consciousness and I will appreciate any advice. 

Thanks in advance.