How is investing in a company you believe in, or a product you like, or a sector you know a lot in less creative than plugging a number into a formula to determine whether the property will be profitable, then writing a contract, and then passing it onto a PM company and never touch it again?  

But overlooking the time and leisure factor is a big mistake.

Therefore in my humble opinion we're not in a housing bubble right now.Comments by @Michelle Bright and @Victor Gutierrez about other sectors of the economy (commercial real estate, stocks, etc.) have me worried.  

I thought that was literally illegal to have that many people in a 1 bedroom.Regarding the wages there... outside of the tech sector... silicon valley etc....it seems  wages in LA or CA generally, is for the most part not materially different from the rest of the country but housing prices obviously is. 

You have to beat out the other candidate that want's your dream job.Curious, how did you get through 4 years of college "if it wasn't fun and aligned with your passion of leisure time activities?

Now a days my wife sells real estate at her leisure.. and of course its all about the grandkids.. 

@Jay Hinrichs  no,  I pursue a cheaper housing sector than you deal with, however the appreciation figures are about the same in my markets as Yamhill.  

If your goal to hold apartments, but you still need to wholesale or flip, then you could consider trading small Multifamily. this way you start in the sector you want to be in long term and learn along the way.

Instead, what should happen is make lotteries legal, but totally in the private sector, and the government can then tax the activity and put the money towards useful activities for the citizenry. 

Ultimately the most important things to look for in an area you're targeting are population growth, job growth, strong rental rates & trending upward, strong economic sectors, tax implications or favorability and regulations, and obviously property values.