Good schools are what I value most.

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

And what about that high school biology?

Magic to my ears. 

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).

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

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

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

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

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.