I can't speak to other states but I know in San Francisco Bay Area, LA and San Diego (expensive coastal cities) that if someone buys at a discount then can do a fix and flip and make a nice profit (before capital gains tax).

I sold a condo I bought in the San Francisco Bay Area because of the ever increasing HOA fees (increased 3 times in over 2 years to $605 a month) - really wanted to keep it because it was in a good location for commuters but the numbers didn't work. 

In MHP's they are regulated like cars rather than real estate, but the renovation is mostly the same (sans foundation issues, and structural issues if leave the outside walls intact).

Used a VA loan with an 8% down payment.2014 - 2015: Ready to buy more properties, but real estate in San Diego is too expensive and cash flow almost non-existent.

I’m looking to purchase my first investment property in San Diego, California. 

- househacking/ADU in san diego- invest in local san diego HML, let me know if you need introduction- buy 2 asset 30% LTV in san diego, flip, rent it out for two three years, then sellif you want serious money dont move money out of CA except if you're GP lol

I was born and raised in San Francisco and ran into the same issues finding properties in 2021.

The largest drops were in Las Vegas (-42%), Boise (-36%), Stockton (-25%), Bridgeport (-24%), San Jose (-19%), Chicago (-18%), Raleigh (-17%), and Phoenix (-15%).57 of the Top 100 saw active inventory rise YoY in January 2024.

San Bernardino must have more liberal rules if they allow larger.  

You say you live there part time but you have San Carlos as home???