Urban areas close to the action.  

I am an Urban Planner by degree and now a real estate owner in the process of rehabbing.

residential areas are divided into 67 distinctive segments based on their socioeconomic and demographic composition, and then further classified into 14 LifeMode and Urbanization Groups...."

We use Mac from Urban Construction for most of our stuff, call him at (909) 732 7434.

I do feel that downside is minimal as this is a relatively urban area somewhat near colleges so I do not see a circumstance where apartment demand decreases substantially. 

Not so far...but, I am in an urban environment.

I'm a trash to treasure junkie & hope to get that upscale/urban chic look on the cheap.That said, I've got my eye on a row house in an up & coming neighborhood.  

@Jay HinrichsThis is very generous of you for giving back to the society, although you technically disqualified all out of state investors :).Thanks again for your generosity and ecnouragement to all new invstors to which I count myself as part of..you cluld have sold the property and given the proceeds to charity but you chose this route to encourage the community...This singular is most appreciated.....Merry Christmas!

Have a diploma in Urban Land Economics from UBC specializing in property development, and I am slowly working at a business degree in real estate from TRU.I look forward to connecting with like minded people and learning from all the great minds that are here.Greg

SF offers almost a complete lack of urban sprawl combined with very liberal city politics (a.k.a. stiff construction regulations) located in the hub of the growing tech industry means a strong investors market, if you can scrape up enough cash for the buy in.