I work closely with one here in CA where I found him working on my investment property's neighbor's house.

Prices a few years ago were based on expectations of (in addition to interest rates staying low): - Then current operating cost assumptions (like insurance cost expectations being flat)- A seeming disregard for record levels of new inventory / supply hitting the market- Extremely high inbound migration expectations which are likely to not be met, due to both natural disasters and the boomerang effect when people from California or the Northeast move to the American South and hate every minute of the humidity, the large and relentless swarm of insects, and the occasional hurricane. 

Hey Sarah, I'm a big advocate for self-managing even from out of state.I manage my 12-doors in Detroit and live in California.

We currently live in CA, but are moving to Illinois in the coming months - so this will be our state of residence soon.

We haven't even discussed carriers raising their rates due to their reinsurance carriers increasing their rates, your building locations (CA, FL, NY, coastal counties/cities, etc.), how litigious is your state, your own loss history/ratio as an individual investor, the carrier's overall loss ratio in a certain state/area, the deductibles you've elected, etc. 

Be aware of California taxes that will hit you in their other funds based on your income level.

The 1% deal was for vacant land in Rancho Cucamonga, California.

Basically when you compare Cleveland to Riverside, California most every Cleveland deal will look amazing to you on paper.

A lifelong friend and I are motivated to (virtually) meet and connect with those in REI working in the Pittsburgh area.I'm active duty military and living in California with two rental properties (one in Virginia Beach & one in Pittsburgh) and my close friend owns a single family in Baltimore.  

I still have that house and it rents for a grand these days. my first house was late 70s that I bought  in those days it was 80 10 and 10  you need 10% cash and normally a private HML would give you the 10% second and bank was the first.. interest on the first was 9% second was 15%.. this was before the Carter interest rate run up.. paid 80k for it in Milpitas CA.. and it was brand new bought it from Shapel .