Expect investment loans harder to come by, and the credit score and LTVs more strict.Jeff Lazerson of the Orange County Register made some interesting points about this announcement worth nothing:Lenders may lose their appetites to make these loans because of a worry Fannie and Freddie will say no due to their new rental and second home loan allowances.Many lenders “have already increased second-home financing by an average of 1.45 points.

Orange County and the southernmost tip of L.A.

I will add that I've never looked at a small project like a 4-Plex to have built as new construction because in my targeted areas of investment which are Washington, DC, Orange County, and Los Angeles, California, it's always cheaper to buy smaller properties in these areas unless you're going to build larger apartment buildings, and get the government subsidy's to mitigate cost.   

I know an agent who does this (more in Orange County though) and she will send out letters to homeowners in areas that I’m interested in buying to find off market deals. 

If they show up and find out they bought an orange they're not going to be happy.

In Souther California Los Angeles Orange County area we're probably seeing $50-75k depends on how long of a trench you need to dig for sewer and some other factors @Mike Hong.

I'm looking to buy in Orange County (Southern California).

Actually I do have the ecobee thermostat so this is a low hanging fruit.

Hi Nick,Currently, I own lots of high equity single family homes in the bay area/ orange county. 

@Will Gaston- I'm not telling you anything you don't know but there's very little low hanging fruit out there and you have to work to get them in different ways.