Sean - Welcome to BP! I believe California does have some great opportunities. However, these properties won't be low hanging fruit. You will have to do a little more research, dig a little deeper and turn a few more stones. You may also have to get your "hands dirty" in order to make these properties cash flow. Just last year I expanded my property portfolio in California which now includes Orange, Los Angeles, Riverside and Kern counties. Depending on where the property is situated and the "local market conditions" I have them rented out as either long term, mid-term or short term. Some cash flow more than others, but they all cash flow pretty well. I don't agree with all of the local laws and politics in California, but its still a great place to invest. Property appreciation is second to none and rents always go up here. You get the best of both worlds.
You don't have to look out of state. Look at Riverside, San Bernardino, Kern, and Tulare counties. There may be some excellent opportunities there. I am ALWAYS looking at properties up and down the state (besides looking for properties for my clients, I'm also looking for myself). Again, you won't find "low hanging fruit" but deals are out there.
Since you mentioned that you are getting started, I highly suggest you house-hack (this is how I got started in Costa Mesa, Orange County). I did this for a few years and then I started to scale. If I did it, and I'm no one special, anyone can do it. You'll have to make some sacrifices, put in some work but I promise that its all worth it in the end.
Becareful with BRRRR-ing out of state. If you plan to be there at the property for the entire rehab process, then go for it. But if you plan to travel back and forth, just make sure that the people you have working on your property are highly reputable and trustworthy. Establish some "safeguards" to keep them honest and consistently check their work. I had a project bite me in the butt because I wasn't more diligent in "checking in" on the contractor.
If you need any help or additional advice, feel free to reach out I have helped a lot of my investor friends purchase properties in other counties in California. I hope this helps and good luck in your journey!
