Zestimates are notoriously terrible.In terms of your expenses: Insurance is probably high, talk to insurance agent for a better number.Vacancy might be a bit highWhat about lawn care/snow removal, trash service, water, common electric.Nothing's maintenance free, not even brickMy real concern is the neighborhood.

A big deal to me is building, the municipalities and building inspectors are notoriously difficult to deal with.

REO agents in my market are notorious for this.

Of course, CA is notorious for bucking that trend, so there may be a reason.

I'm not sure about whether the owner awareness is as much a factor as much as that the taking is done in an open and notorious fashion.

@Marcos Carbi  timing the market is notoriously difficult (and research generally shows that even experts who try to time the market usually get it wrong).My philosophy is:  If the property pencils out right now, and fits within your goals, then waiting for future market changes seems silly. 

Lots of notorious people were involved in this endeavor.

The area the house in is notorious for foundation settlement.

Yes, the motive is great but California is notorious for killing housing projects and NIMBY-ism. 

Our county is notorious for errors in tax liens as I went through the hell and hassles that you don’t never hear about.