The most common criteria I see investors evaluating when considering location are job growth, population growth, and school systems.

Looks like these people would stay with me a few years, and I expect school taxes to go up that much each year.

Good schools are what I value most.

And what about that high school biology?

UC is in very high demand so vacancy is basically 0, it isn't really a "party school" unlike somewhere like UCLA (weird example I know) so you won't have to deal with those issues as much, depending on how many people live there, who you rent it to (frat/party kids, etc).

There are also a couple boarding schools and private schools in the area that bring in wealthier families for visits. 

Anyone can paint, but it may look like a middle school project.

hahaha John, I thought I left the debating back in high school

There is no law school course in "statutory construction" or that even forms a segment of some course about related issues. 

Everyone has been scared the crazy state was never going to put a budget together and eventually the schools were going to have to shut down because they had no money coming in.So this may very well be a good time to buy as some landlords in college towns may have seen a decrease in vacancy and might be spooked.