Ida is a beautiful area! 

However if this is an appreciating market, although your monthly cash flow might be neutral or negative, you may over time actually have what we consider phantom cash flow, which is gained through appreciation and tax benefits. in most cases, if you need true “cash flow” use the simple one percent rule.

The same is true here, but in the new arrangement it is only more transparent. 

While many commenters suggest there is a 6-month redemption period, that is only true for Mortgage Foreclosures NOT Tax Foreclosures.

CA is a beautiful state. 

While I have found this to be true in several cases, I would suggest making some hard money contacts while still looking for properties.  

The reason being is they can quote you a low rate (too good to be true usually) and then half way through the process or even worst at closing the rate is subject to what it is that day and then they excuse themselves because the borrower never asked for a rate lock or were never aware of what a rate lock is.If you have any more questions I am happy to help.

The true bridge loan could work, but as you might have seen you'll be paying interest on that difference and so you may still run into DTI issues. 

Is that true? 

I've always been curious myself about Self Storage, seems too good to be true from the street view.