You need to know how to analyze property and then systematically evaluate property on a daily or weekly basis to stay on top of the market. 

Of those that do own a 2nd home near Los Angeles, many of those homes are weekend get away homes which are typically smaller than what they live in daily.  

I've done this before and made it a small daily penalty/bonus amount. 

I do it on the daily for buyers from all over the US. 

This means that sometimes the insurance will be higher than you would think it would be or need to be but be warned; insurance is a "get what you pay for" type of transaction.

Don't trust what ANYONE tells you about a market without solid data to back it up - this includes claims about how many transactions they've done or a single example (that's often from several years ago). 

I believe subject to transactions, done CORRECTLY, between KNOWLEDGABLE participants, with FULL DISCLOSURE, are typically successful transactions that have benefits for both sides.  

It sounds like there's no consistent place to go to given daily rate changes, quotas to hit etc?

Interest only loans allows them to get a goal profit of $500-$600 per month per property.3) Each acquisition would require 20-25% down at an 80-100K purchase price. 4) Closing costs, and the Eric Spofford turn-key transaction fee of 10K would be in addition to the down payment and were not included for the purposes of calculating the cash-on-cash return.

Does anyone have experience with that kind of transaction?