Remote ownership will be my primary play as I want to keep living in SoCal. 

Thats what I would do next and you can really just see what the numbers tell you (and look at different rate/refinance scenarios how it would play out in the next few years)

Fast decision-making played a crucial role in this successful deal.

A second shockwave to housing cannot be supported unless we dip below 3.7% unemployment and the median income: house price gets back closer to 6.33 or sub.I think the rates actually show how it'll play out-- a near term dip, a long term buy.

Ultimately, location and demand will play a big role in how it performs.

They got in the game when rates were low and it was easy to find cashflow plays. 

I would play along and let the neighbor know that you are sorry they need to sell their home for these health reasons and offer to buy it for half what its worth.

Your agent should be able to point out if the property was properly renovated or if they just slap something together to make it look good right before sale.

Then that person sells the property to someone else and slaps a second on it. 

If you told him you have been playing pickup games for the past year and need help improving your jump shot, now he has evidence you're motivated and a specific goal he can quickly help you work towards.