You will have some 2 year old furniture that might be of some use, but its a losing proposition in my opinion.

Not to mention flipping homes at this price point is a painful proposition.

It's a risk-reward proposition and for us here in Columbus, I see a lot of saturation with STR, but we have very high demand for MTR so most of the properties in our portfolio wind up being mid terms. 

As an aside, I'm voting no on Proposition 33 which is on the CA November ballot - they are trying to limit rent increases between tenants.

How do I educate and reach the young(ish) professionals on the value proposition of these kind of "starter homes" to build equity, learn property management and save a ton of money relative to single unit purchases? 

So it's an all or nothing proposition for the house. 

With Proposition 33 potentially getting voted in, does anyone have the intention of looking in other areas such as Georgia for investments? 

This November, California voters will decide on Proposition 33, which could repeal the Costa-Hawkins Rental Housing Act, expanding rent control options across the state.

After new acquisitions I give tenants 12 months to demonstrate my value proposition as a landlord.

One thing that OOS people don't understand is that Californians have Proposition 13 and our property taxes to up a maximum of 2% a year (unless someone does a significant renovation causing the property value to be reassessed).