I would strongly consider building equity to make a stronger down payment and further decrease your monthly cost. 

This allows for deferral of capital gains taxes until December 31, 2026, with potential reductions in the taxable amount if held long-term.

From there it is really just a matter of determining comps, cost to rehab a property, and your timeline.I have helped several investors flip their first home in Austin and learn how to do it effectively.

 I am a relatively new house flipper.  One of the issues I have noticed is that some people think of a flip house as being the cheapest possible rehab.  To address this I took detailed pictures from beginning to end o...

If you have a good FICO, a decent down payment and closing costs, go ahead an do the first one. 

Just say no.I would almost never do this trade unless all my downside, including potential unknowns, were completely compensated for. 

CA is arguably #1 in the USA by a long shot for resource-potential-of-awesomeness.

Wage growth is still running at over 4%, above core inflation.This permeates to all workers, including the construction trades, and thus, to the price/cost of homes.

I want to be able to find potential markets/listings nationally based on the return. 

That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.