Talk about how good the schools are, how close to the beaches or other attractions, Size/type of kitchen, ease of maintenance of swimming pool if in place or jet powered swim lane, Covered parking if so, etc. 

I have a 4 bedroom townhouse in an HOA, in a beach area near a party town. 

Chris, the notion that you can become a millionaire while sipping pina coloda's on the beach isn't a reality.

The cities we narrowed down to: Long Beach, Huntington Beach, Cypress, Anaheim, Garden Grove, Westminster, Buena Park, Costa Mesa, etc. 

@Joshua Silver in what event would they freeze a 1st position HELOC?

From what I've gathered demand is down a bit and so if you are even further from the actual beaches I could see you not getting enough occupancy. 

Plus is the house first row, beach front?

The area is a harbor with a beautiful beach, seals, whales, otters and  lots of tourism and mixed uses.  

you definitely want to see rental history. i had a lot of immigrants that are great tenants that are better then someone born here with a silver spoon.

The building is near the beach and is about 40 years old.