Finding a cash flow property in the SCV or the SFV is not easy and you will have to hunt for a very motivated seller where you can buy at a good enough discount, fix it up, and have it in an area that would support getting close to cash flow which is no easy task as prices have skyrocketed here (although not as much in SCV).

Although I would love to purchase my second rental property in Worcester as well, the prices have recently sky rocketed.

As for appreciation, the Toledo market has sky rocketed in my opinion the last 2 years.

this happened a ton when i was in the land and timber business heavy.. family inherit 300 acres of timber worth millions upon millions.. timber sky rocketed but had zero basis.. get new valuations and stepped basis log it or sell it to someone like us.. grab the cash and off you go.   

----As @Mary M stated too...HML is still out there, but I've noticed (at least in Atlanta) their rates have stayed steady, but their points have skyrocketed. 

Thank you Your liability skyrockets if they are living there and you know about it and they are not on the lease.

So, prices go up, skyrocket is more accurate. 

We know inflation is skyrocketing and RE has taken off, New York is a matter of time.

Investor loans through Fannie Mae had skyrocketed since May when they decided to cap lender's investment percentage of loans produced.  4.1125% and 1.5 or so in points is not out of the realm of possibility. 

Even in the current hot market where appreciation is skyrocketing, this would be tough to achieve.The best strategy would be to purchase property that you can force equity into.