A buddy of mine invested early in that area, and let's just say he's not regretting it.From what I've heard, these massive projects tend to create ripple effects in the surrounding neighborhoods.

@William Coet it’s a different business model altogether.I love highly desirable areas that attract highly skilled high income college educated workforces.They tend to be more liberal and therefore the landlord tenant laws.The percent of their income that goes to rent is typically much less than 20% so a rental increase of 5-10% is nothing to them.They are typically lower cap rate areas and therefore every dollar of net operating income that is earned is explosive to the underlying asset value.

There are options that have no seasoning requirements, but they tend to be slightly more expensive so it's really up to you how you'd want to proceed.

I tend to agree with you Wale :)

Hey Stephanie - If you’re open to STRs, they tend to perform well in Orange County.

People tend to not think about how many devices they have using the internet. 

In terms of strong markets, I tend to look at major industries in an area (hospitals, universities, military, etc.) because I want a large tenant pool.

You should make sure that in the worst case scenario (no rooms rented out), that you will be able to afford the mortgage.Even though it's unlikely all the rooms will be vacant, its equally unlikely that all rooms will be rented out for a long time, room renters tend to move around a lot so you still want to make sure you're prepared for the vacancy, as Koren mentioned above expect leases under 12 months.  

We have found that those who are unemployed and pretty much housebound are the ones who tend to disrespect the property and have too much time on their hands for nothing good. 

Because tenants tend to be really stable, they are easy to manage though so they can still make sense for someone looking to park money into real estate with the least amount of hassle (property funds itself, tenants pay off mortgage over time but little to no cash flow).