Home values are much more affordable and the local economy is trending upward.

These areas are becoming 'micro Big Sur-esque,' a more affordable piece of the Pacific Wonderland. 

I want to avoid falling into a mindset of thinking we can't afford to invest because of the needs in front of us.

In markets where affordability and cash flow are tough, focusing on stable, long-term rental markets with strong resident demand can make all the difference.It’s completely understandable to feel cautious after missing opportunities in the past, but real estate has always been about timing and strategy.

While we need massive reform in lending and solutions for home affordability, that ain't it. 

About me, most of my assets are RE but in another market so I would be diversifying in that market.Potential for appreciation is very uncertain: prices have risen a lot locally lately and are as high as they have ever been, and it’s unlikely higher prices would be affordable by locals.

In addition, some of those fire victims can afford to pay top of market price for homes. 

You could also team up with another investor to afford better deals or start wholesaling to build cash before buying rentals.

Can you afford a vacancy or two?

We have talked about things such as rent by the room and acknowledge that the operating model will likely be very different while living in the property vs. when we move out.I think the point you made about assumable loans is very helpful to get into a property you might not otherwise be able to afford.