Corona impacts will greatly impact this surplus but it is nice that the state had a $9B surplus.CA, over the last 10 years, had the 2nd largest net population increase of all 50 states (last I looked - I believe it to still be true). 

This 1925 bungalow was a true challenge, needing a complete rehab from top to bottom.

It's nerve wracking but true that traveling professionals are booking really close to when they come to town.

This deal taught me the true meaning of “expect the unexpected” in real estate!

I keep saying it's making me a better investor and that's probably true.

Yes true, but i dont want to invest into more houses for many reasons, in the state of NJ/NY and many more states tenants can get away with years of not paying rent, also they trash the house not all tenants  but some do. 

Assuming this scenario is true, I cannot see a scenario where coastal RE near Los Angeles does not have over sized appreciation.   2nd homes is not going to make a significant dent in this increased demand. best wishes

That is the true value of participating in things like this that are a bit more involved. 

Your true return has to be risk adjusted.  

With actual cash, you just transfer it. yes, but you can still bid with lender approval - without appraisal contingency - you send in deal (app), it gets approved by lender its functionally the same as cash (except in true lightning speed situations where there is a quick auction with little time to prep but thats generally pretty rare I'd think)Right, but that's not cash or functionally the same as cash because the lender can change the terms at the last minute, as often happens with less experienced hard money lenders.