You are put in the position of having to accept their title insurance (which frequently includes exceptions) or losing your deposit. 

I'm a big fan of So Cal investors investing in So Cal.  

Downsides are you will have naturally high turnover and must account for the costs involved in those frequent turns - I did not factor this in when I first started.  

Hi David, thank you for this it is an interesting read and there is lots of good food for thought.But for me I am not a fan of Syndication, (yet) and I do believe that the main reason for this is the lack of direct control I end up having.I have ventured into Partnerships over the years and with the exception of the one I have with my wife, none of them worked well for me, I understand this is more than likely a result of my approach to them, so I am confident that I can make it work, to me its a matter of finding the right place, and after a lot of conversations about Memphis I have decided this is not where I want my first Large Apartment purchase to be.I am now going to expand my search into Texas and possibly other surrounding states to see what can be found.

Preach it, @Joe Splitrock...it seems that politicians who frequently tout legislation to confiscate more wealth from businesses have had little to no practical experience running businesses, and don't always appreciate the impact on the free market.  

@Leo Semenov I am not a fan of purchasing a Residential Multifamily Property known as "House Hacking."

I am not a big fan of that program as you are limited to what you can do to the house by the equity spread from purchase, rehab and refi.  

I am not UP on this type of activity,,, but on fan value, I don't thinks it is a viable way to secure financing.....

I'm up in that area pretty frequently.

I know this may not be frequented, but it still makes me consider venturing off into that lane.