Quality over quantity.This massive scale & leverage philosophy on the lower entry/lowest hanging fruit markets is excellent for spreadsheets.

I personally own properties in the counties of Orange, Los Angeles, Riverside and Kern.

Here are some real years that markets surpassed previous high  - Los Angeles: 2018- Orange County: 2016- Ventura county: 2020- San Bernardino: 2020- riverside: 2020- San Diego: 2020- Santa Barbara: 2018Each of these markets are far higher today than their high from prior to Great Recession.

We vacation there regularly:  Dauphin Island - 2017, Orange Beach - 2022, Gulf Shores - 2023, Fort Morgan - upcoming 2024.My guess is that Dauphin Island doesn't see the same appreciation as Gulf Shores, Orange Beach, and places eastward. 

Take a look at some trade accounts and a line at the Big Blue and Big Orange if you are going to self manage.  

I had a buddy who invested in Orange because of the cashflow but he ultimately got out due to high vacancy rates and less than desirable appreciation. 

It can't be in Orange County (most of Orlando) as they do not allow STR.

and fooling with HUD would be a federal offense.. not worth the orange jumpsuit

They're all the same, sounds like you're comparing apples to oranges on policies.

It’s like planting a tree – it takes some effort upfront, but you get to enjoy the fruits pretty quickly.What's More Important?