The answer is a big fat no.I see in residential this type of market going on.

Pigs get fat-Hogs get slaughtered"Move on to the next deal...........Congrats IF it closes!

money back at settlement - some owner financing - possession with a delayed settlement - a one year guarantee of the furnace - roof and electrical system -- after the settlement, a home warranty, new appliances - or a fat reduction in price - etc.My blog on Negative thinking may help you when you are negotiating for keeps.Charles Parrish

This means you will have to do a bit of networking and possibly direct mail to get a big fat Cash Buyer's list. 

Chicago I think though is still my fave.

One idea: try not to look at it quite so black and white (flip versus buy and hold).There might be a middle path for you.For example, check out the work by one of my fave real estate authors Jay P.

You don't want a fat HOA; it's money down the drain and doesn't build equity OR help with leverage.

You can do it buy your self, but with an attorney most of these are on contingent basis.They only get paid if they get your taxes lower, which means you can use them to the fullest and there is not pre payment of any sort.Also they will challenge last two year which will get you a fat refund check if they win you the case.

Plus the 4 months to foreclose in CA means the soonest you could recover your collateral, the collateral with a big fat (most likely foreclosing) senior lien, is 8 months.  

My fave markets right now are Philly and Birmingham, and then there are more established markets like Indy, Houston, Dallas, Chicago, Atlanta, etc.