VA and Location

[Dan Bee]

Hi all.

I'm just starting out in real estate investments. However, what my wife and I have saved up needs to go into something we can live in. I want to be able to use our FHA or VA loan capabilities. I'm taking on a new job in Lancaster, CA which is said to have very affordable housing. Some people have recommended that we get a quad in the Santa Clarita Valley or in Tehachapi.

How do I figure out on average which quads have the best ROI, rental yields, cap rates, etc in which area? I want to compare the areas on average. Is there a report on the best ROI in Los Angeles and Kern county? I also don't think I can afford to take out a VA or FHA loan for more than $600k. The loans stipulate that we have to live in one unit. We may move out after a year.

Thoughts on how to find the best ROI would be helpful.