So depending what future holds for California, and whether you target appreciation or cash flow, select your locations.

I’m a real target for a sad story from a tenant that doesn’t want to pay.Do you self manage through Pad Split?

It's frustrating because there is entitlement and they are making it seem as if I am targeting their physical problem when simply their solution of parking the bike in that laundry room is unacceptable.I hope this made sense. 

who is your target buyer?

I think the tough part about targeting the film industry directly is that in order to consistently pull them you will probably need to get in touch with someone in that industry and pitch it to them.

I actually like the suggestion you gave for the second home, I just don't know how I would swing it since we're targeting it as an add the the investment holding company as opposed to a solo purchase for myself. 

Sometimes it can work but this is not one of those times.Ask yourself first who is the target market?  

It depends on who you're targeting as a tenant for your property.

Maybe MTR will be a better target.  

I had a few appraisals come back from Akron/Clv markets and had the appraiser comment that it is a "down market".If you are targeting the 50k purchases with the 20k rehab and then hopping to refi out afterward you are taking a gamble because if you do not get the 100k value after the rehab you can get stuck in the project or be forced to take a mortgage with a terrible rate.Keep your purchases 80k and up and try to make sure your project costs are over 100k on everything so you can be pretty confident that you'll get the 100k value afterward.