Long-term buy and hold (like what you describe) always seems to me to be a long bet on an area.    

Also you may want to make sure what your insurance company would say about that.I own several houses in Indianapolis in that size of yours and 60,000BTU should be fine with 3 ton A/C (or just use window A/C). 

Yosemite area is rural and home values don’t change all that much so don’t bet on appreciation. 

I think you want to look for C or B class neighborhoods.

The paint cors are: roycroft mist gray sw2844, fawn brindle sw7640

Rent of $750 to $850 a month.Duplexes 60K all in rents at 1200 to 1400 a month.This is all in high C or B areas, nothing in the hood.

The guys who create the bonds will collect a nice fee and the returns while unsexy, as long as they are marginally positive, I guess the structure works.http://www.bloomberg.com/infographics/2013-12-20/blackstones-big-bet-on-rental-homes.html

Also, can an investor guard against houses in C or D neigbhorhoods of Cleveland being vandalized and stripped of valuables, such as the furnaces, electrical wiring, etc. before the house(s) are even rented out to tenants?

My definition of C or C- is not anywhere near a war zone.

I am not saying whether CA is a good bet one way or the other.