Quote from @Isadore Nelson: Cash-for-keys, unless you're offering heavy sums does not happen in one afternoon. 

The markets you mentioned in your initial post in this thread are great markets, but they're all heavy on appreciation and light on cash flow.

My inspector emails me the report and then I dive in and do the heavy reading.

Lots to offer here for heavy hitters, and intermediates like myself.

I use my house hacks in Los Angeles as a vehicle to expand the portfolio.

What are the odds of a vehicle accident resulting in a settlement greater than vehicle liability will cover?

Are you doubling down on short-term rentals in tourist-heavy areas, pivoting to long-term rentals in growing suburban markets, diving into value-add multifamily properties, or exploring something completely different?

This means that every year, your IRR (Internal Rate of Return) will increase.4) In an appreciation heavy market like San Diego, the IRR is going to be the best way to calculate your earnings as cash flow is fairly low relative to initial costs (down-payment, closing costs, carry costs while placing tenants)5) To calculate your IRR, you want to use this formula: (Appreciation + loan pay down +/- Net rents)/ down- payment.you can include the Closing Costs, and carry costs, but I usually do not.

After you feel confident in understanding real estate as an investment vehicle, decide how you want to begin your investing journey.

Some of the heavy hitters here in Chicago discussed the ADU program with a very nice person from the building department.