I belong to a few local Facebook vacation rental groups.  

However, it seems my local area (San Jose / Bay Area) might not be the best as I know most of the win is in the buy.

Hello AllI am a business management executive for a large global company, and we (my wife and I) are getting into local real estate investing primarily within LA county, IE, OC and Riverside area.

I found this deal off market while making relationships with local real estate agents.How did you finance this deal?

I am still very active in my local market as a host of the WWL Home Improvement each weekend.

Carter,Network locally with real estate investment groups and Facebook groups. 

A suggestion I would give you is to find a couple "for rent" signs in your local market, get the address and start "running your numbers" on the rental property calculator that BP has for us on here.

Its hotel law not landlord law.Check your local laws about this.

You can meet and network with local house-flippers, wholesalers, real estate investors, real estate portfolio owners, etc. 

.- Most cities do NOT care if an owner lives in basement, but will not allow a tenant to unless baement has legal egress window.3) Check local statutes if any limitations on how many unrelated roommates are allowed.4) Check with local building dept to see if rental inspections and corresponding requirements.5) Local statutes allow locks on bedroom doors?