@Frank ThomasA few clarifying questions:Do you plan to live in it as a primary residence?

We only use deadbolts so residents can not lock themselves out.

If you are getting a true turnkey home that hit's the 1% rule there's a very high probability you are in a more challenged area where the residents aren't as consistent over time. 

Place good residents, make sure the block is nice (just not the street) and you should be fine.

Investment Info:Single-family residence fix & flip investment.

Investment Info:Single-family residence buy & hold investment.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

We recently had an ESA Great Dane (with all the proper ESA documentation) that bit another resident. 

I believe you have to make that your primary residence for at least two years before moving to the next one. 

You can also HELOC your primary residence or RELOC the orange county property and transition that into cashflowing assets.