In some of those major markets you listed, price pressures will make it very difficult to get to 1% as some investors are banking on appreciation.

Rent growth and overall demand will keep putting upward pressure on rental prices. 

If the county needs to raise more tax revenue due to operating budget increases then they'll probably try to assess on a regular basis like every 2 years, but political pressure might hold them back.

I believe there are less evictions due to the short supply of available properties for rent in Central California, which puts pressure on tenants to pay there current rent.

My dear wife, without me pressuring her, even decided to create a profile here on BP.

I have corrugated pipes that have rusted from the inside so there's very low water pressure in the bathrooms due to the rust buildup.

Experience has a price too, and doing your first deal under the constraints and maybe a time line of a lender will just add to the pressure of your deal, as well as expnese as Jeff pointed out.

I would not feel pressured into not wasting somebody else's time.  

Some claim banks are holding onto homes because they now have TARP money and don’t have to mark to market anymore, or are being pressured by the government.

That is actually one reason I want to get into investing, to keep from feeling the paycheck to paycheck pressure.