Thoughts on Investing now or hold off for next RE upswing?

[Andrew Dunkelberger]

Any input if I should invest in California real estate now for either rental and flips, or hold off for the bubble to pop and start investing in the next upswing? California does not offer attractive ROI on rental properties today due to cost and flipping is getting tough in this market as we see rate increases and dropping prices of homes in the market. Any professional input and feedback is appreciated.