If you have a property under contract at a great price, and a competitive bid scenario between multiple investors may be the right course of action, consult with a reputable real estate auction company.The auction company should be able to tell you pretty quick whether your deal is as good as you think it is.

With the higher inventory we are seeing and the rates staying where they are, I think it's a solid time for a buyer to get a deal from a seller that is struggling to get their pricepoint due to too much listing competition and high buyer skepticism. 

I'm not saying don't do it, I'm saying do heavy due diligence to see if it makes sense for you. 

This forced appreciation with a heavy value-add should be great with a long term buy & hold play.2) Cash out refi & purchase a vacation home via a 2nd home loan. 

I would be more than happy to help review anyone’s coverage to ensure their coverage is not only correctly protecting the asset/liability needs, but the premium is also competitive across the industry.

Contrary to popular opinion, I don't see us going back to yesterday's rate environment, and I'm not anticipating being able to obtain investment property financing at sub 6% at any time in the near future without heavy buydowns. 5-7% is the historical norm for mortgage rates - it's not like 7% for an investment property is outrageous or shocking, and this is the ballpark I use to underwrite my deals. 

Over the years the side toward the house has slumped toward the house and during very heavy rains can cause seepage into the basement. 

In Southern California, multi-family properties offer potential for appreciation along with some cash flow, given the steady population and desirable market, but higher property costs, taxes, and insurance can eat into your profits, and finding a suitable unit in your budget might be competitive.

Heavy emphasis on caveat emptor here, do plenty of diligence. 

Not just that there is too much competition.