I think the median household income is like 68k.

I also believe many of the people will not have 2nd homes   For example Altadena has slightly high, for coastal CA, RE prices but household income is near the median for CA.  

They have median household incomes of 52k and 55k respectively.

My core investing philosophy is pretty simple, and has done very well across almost two decades and numerous cities:1) Invest in cities with population (and job) growth2) Invest in parts of the city where household income is near the median (or slightly below)3) Invest in properties that provide cash flow from day 1 Thank you for sharing that. 

Negative $700/month doesn't put a dent into our household free cash flow and that allows us to buy properties that appreciate rather than cash flow. 

The target customers are the unbanked and underbanked population, which is 30 million household in US.

Do you screen all adults in the household or just the person paying the rent? 

How much is your household income?

This approach mitigates risk while leveraging your resources effectively.Looks like your household could qualify as REPS and really offset your taxes if your portfolio is optimized.

The story behind Rommel here is that he was in a very abusive household with some bad guys.