Schools are not great.I would not consider that area anywhere close to AT&T stadium, but maybe closer than CA. 

But I've yet to see anyone do that in today's market especially in California.

How do you buy a property one day for 40k put nothing into it and sell it for 80 the next day.. some one is getting screwed :)  I get the math I get wrapping the notes my family had a company call CA Wrap we did hundreds of them .. now they were on vacant land as we were in the land bizz and this is much more aligned to the land business than buying homes and selling to owner occs.. 

Post back if you find another lender who serves you well, and I will add them to my list and pay it forward.Ridge Lending All in One, first position HELOCAmericafirst 80% LTV on noo 65% LTV UtahArvest Bank AR, OK, AL, MO Bank of the west BB&T will loan on a rental portfolioBBVA Compass Boeing employee credit union California: Cal Coast Credit Union and Fremont Bank.

My mother is a RE agent back home in California (30+ years), I have one rental property in Virginia Beach, and I'm mostly interested in BRRRRs, flips, and long/medium-term multifamily properties.

So true my Dad started a company in CA in 1980 called Cal Wrap the all inclusive DT had just come out and we only wrapped PRIVATE MORTGAGES  never bank mortgages.

One of the things many who think CA OR WA are too expensive or are anti landlord.. this works two ways.. and exactly how you describe it..

Definitely more tenant friendly than landlord friendly due to the laws in Illinois, but not as bad as California or even Chicago.  

There are several articles that do an exceptional job of explaining who, what, where, why and how tax payers qualify for the ‘STR Loophole’ listed here:The Short Term Rental Tax Loop Hole: A Game Changer for W-2 Wage EarnersThe Short Term Tax Rental Loop Hole: What Investors need to know The implications on the Oregon and California Coastal STR market is a strengthening buyer pool for luxury rentals in the $750-1.5M+ range.

It's people who understand that it takes effort to become successful, typically from CA at this point, and have a way of showing those characteristics, do best.