In Southern California, we have amazing appreciation (both in rents and in home values), which you can later leverage to buy properties out of state.

I think it's ridiculous to pay a tenant to leave, but it makes sense in places like California.

States like CA, NY, CT, NJ, MD are notorious for high sale price homes, higher taxes and hard to cash flow.

Now, ca n you learn to properly do creative financing from a mentor/coach/investor - of course.

Hey @Keenan Patton,This deal looks solid with a projected $60K profit, $435K ARV, and a $13K assignment fee in Northern California.

Wanted to introduce myself.

Title captures most of my question. I purchased a FIRST LIEN Purchase Money Mortgage that foreclosed, originally from 2006. The property had a first mortgage, as well as a second mortgage, both from the same purchase ...

For example, in California, we have earthquake and foundational issues.

California does not have a law requiring deposits to be held separately (neither did Alabama when i had Alabama properties) and it seems like a significant hassle to address a virtually never occurring event (not having money to return deposit to the tenant). 

People still sleep on the area and it is very close to Nor CA but has a lot of different benefits with similar appreciation.