But as an experienced agent and investor (I own several properties across Los Angeles, Orange, Riverside and Kern Counties), I can tell you that no state beats California for appreciation and rental prices.

For example, a house I owned in Orange County reached a top value of $700,000 in 2007, and I owed around $200,000 on it and it rented for $2,000.00 a month. 

Scenario A :  The project (in Orange County, CA) I am undertaking is a grand-fathered 3-unit property where I will renovate these units and add two ADUs to the lot.

Follow the Orange Line, get off at each stop, and get a feel for the areas.

We manage SFRs, condos, townhomes, and apartments buildings throughout Orange County.  

This is exactly how I got started in real estate just up the street (the I-5) in Orange County.   

For example, we only lend in LA, Orange, and eastern Riverside Counties.

You will also gain valuable experience that you can leverage for other opportunities.Speaking from personal experience, I have several STR rentals in California (I co-own STRental Pros in Orange County, Los Angeles County, and Riverside County).

Orange County.  

What are good areas to look into; in the near future considering places like Newark, orange and east orange.