I prefer to stay further from the coast and hopefully further from major storm/flooding events (potentially lower insurance costs).  

I am the first in my family to do REI and my goal is to break the tradition of working for a salary for 40+ yrs only to retire on what I hope will be enough to start living freely.

Then progress to permits and then building.You could also just do it and hope the city doesn't notice, which they probably won't.Your challenge will be getting Certificates of Compliance on the units!

@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I hope that helps. 

I’d love to hear about your goals and what you’re hoping to achieve here.

Hope this helps!

Hope that helps! 

@Scott Stampsi don't know anything about it but i am just curious:what your experience level iswhat you're hoping to accomplish

Happy to be another source of properties for you and hopefully help you take your portfolio to the next level!