I'd like to hear what others have to say as well.

@Dawn Anastasi  And or price's actually go up instead of talking about them going up.. as we know many markets the prices have been  and are and will almost always be based on backing into cash flow numbers.. so if rents don't climb values never will.where a local ( like you ) would probably not touch anything they could not get say a 20% COC return.. a CA investor who thinks they are buying turn key set it forget type stuff is happy with 10 or 15%  at least on paper  ( those numbers rarely work out over long haul as we know). 

But you were at the last meeting, I even brought my guys with me in case they asked questions, and the council didn't say a word..

We landlords don't say a word when our rent checks cash every month--only when something bad happens.Congrats on your continued success.

but What if I wanted to get lets say a house worth 300K and rent it for about 2,400.  

@Corby Goadeso the reason that I want to get FHA is coz I could use less down payment on my first property. in future lets say, a new roof is needed in 60-90 days of closing the property.

If these tenants are willing to put down $1200 just for a pet deposit that will say a lot.We flat out do not allow pets in our multi-family buildings, but will consider pets in SFRs.  

I guess I just don’t say as much.

Because of the margins, Can do deals pretty much all day every daywhere you basically just aquire the property, sometimes a bit of 'mop and glop', then just hand it over to a realtor with say a 20k markup, move on to the next one etc.

That's all I've got though, hoping to see what everyone else has to say...As an aside, did you buy this cash?