Daniel Siapin , From some of the articles I've read, it sounds like plenty of Anaheim residents aren't too thrilled about all the STR's either.

That can work I have seen it done but now you are talking about gambling.  

He was thrilled.

While appreciation in pricey markets is nice, it's also gambling.

@Michael Chilcott it's definitely better to get in at a fixed rate if possible, but it just depends on if you want to take the gamble and how sure you are of the value that may come back.  

I think that people are just gambling that the Lender just won't bother.Now, let's say you locked in a 30 year fix rate mortgage at 4%.Why would you take a chance of having to refi that beautiful Mortgage if the Lender calls the Loan?

They are thrilled any local landlord will accept their clients. 

@Wayne Brooks simple advice, seems like a pretty bad gamble given the bottom line!

@Tony Gunter i understand but maybe for me i believe that appreciation is kind of gamble because it will be affected by a lot of factors while cash on cash is kind of solid.

I'm thrilled to have them and so is my bank account.