CA real estate will always go up, no way around it, play the long term game with the greatest land our country has to offer.

To cash flow a large downpayment is necessary or you play the long game with YOY rent increases and fixed debt.

Instead, I would look for a small single family house nearby if you want to play the speculation game, as those will get the halo effect from the train station opening too, and you can probably get one to fix up at a cost of 65% of the Pulte homes, and rent for 75% as much money. 

If I were going to give BP some constructive criticism, I think at times the make it seem easier than it is, or sometimes down play the risk. 

Even though you may be playing the appreciation game, your comment about having to take out of your emergency fund of you personal residence leads me to believe that you may not have the finances to be able to play the appreciation game long term, and you may be able to leverage the money from selling this house to buy into a more cash flowing market.

Play the long game. 

I'mseeing you play the small violin and only leads me to think that through your work, you simply have not come out on the top of the income ladder.....crying over spilt milk.Tell us someting factual without your political opinions....Dennis Tierney All that means is`that there are greedy bastarrrrrr, in Canada who want to go to the greener side of the border, says nothing about their compensation...

If you want to chill and play the appreciation game a bit (maybe you don't care about cashflow rn) then buy a home in a good area - I did a 1031 from my property in Joshua Tree into a SFH in Livermore CA - and try to hold on to it.

This, of course, isn't ideal but given the small down payment and likelihood of appreciation, is this a good play?  The

have to play the hands that are dealt you.what mitigates it on the west coast is the property could go up 200 to 300k in 5 years. thats were the money is made.or maybe not.. but to me west coast rentals and rust belt rentals and what constitutes a deal are just apples and oranges.