The subject of the article wants to have her cake and eat it too, which is nothing short of whining.

HI Jonthan,Im local in south OC and invest for cashflow and appreciation (hybrid) however im in an appreciation market (seattle).We have a local meetup in anaheim area if you're looking to network, meet other investors, and discussion topics, and strategy.

In Anaheim (November 2&3) we are expecting 300 attendees, and another 30 vendors, etc. we try to keep the speaker/vendor to attendee ratio to 1/10.

That's the icing on the cake, and really just an inflation hedge. 

I doubt you will have tenants that stay on for years .. and agents or PMs are going to charge you to do that.. with 2k or so a year in your blue sky proforma.. i suspect in reality this will be break even to a little bit of negative.. and you big bonus will be your tenant paying your place off for you ( which is just fine in my book to me cash flow is icing on the cake its all about getting that debt paid down with someone elses dollar. and of course the little bit of tax shelter.. also I can see how your prop tax's are only 1600.. thats 05%  that seems really low.But I do wish U the best with these.. it looks like a solid place though.

David, I just am closing on 3bd/2ba in Anaheim and plan to convert 640 sq ft detached garage into 2 bed apartment.  

In my area, it is very price point and subarea dependent on whether a new build is selling like a hot cake or whether builders are throwing everything at buyers to try to sell anything.

@Chris H.the answer @Jonathan Greene gave you was solid id also add that you want to be careful investing for appreciation, it should be icing on the cake but not a deciding factor for if you buy a property or not.

Selling in a Hawaiian winter can be a piece of cake, especially if you have a great agent with solid marketing skills.

@Tyler Fox why not have your cake and eat it too?!?!?