It just meant problems down the road during the project.....something was always wrong,Cheap people tend to be unreasonably picky as well, and with no real understanding to back up their concerns.

They're typically more expensive than a bank or conventional financing but can close much faster and tend to accept borrowers who can't achieve bank financing.

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.

I tend to agree with you Wale :)

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.

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

I hear renovations tend to disrupt the energy.

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

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.