You rarely will get both (at least not right now in this current market).If you want to explore different opportunities within various areas of the Valley, get a seasoned investor-friendly Realtor who is competent. 

Every Week I scan the MLS, navigating cities and towns in South Florida that are friendly (and not friendly) toward short term rentals.

My investor friends who joined an investing franchise were severely disappointed.

Most of my landlords either don't accept pets at all or are super pet-friendly so pet rent has never been something we have charged.

A friend years ago had over 40 inner city rowhouses.

I have a friend who is a banker locally, he's seen business bank numbers for 40 years...he know what makes a strong business client and when it is a weak business with some good years.

To get started, consider focusing on house hacking in California with properties like duplexes or single-family homes with ADUs, or explore out-of-state rentals in landlord-friendly markets like Ohio or Georgia.

Prioritize quality locations.Keep healthy amount of reserves per property, hire a PM, and hire a tax friendly CPA(not planning just prep). 

I grew up in North Florida so I have a lot of family, friends and business contacts in that area.  

I got the property off-market for $250k from a trusted family friend.