The housing price is so high compare to the rent. 

Especially as of late when rates and prices are high.

This may be an expense the current owner cannot afford.The auction company charges a Buyer's Premium (typically 10% of the high bid) and it is paid by the buyer.

Long term I anticipate construction costs will generally soften as the high-rate environment continues and stifles development.

I highly recommend you contact @Jorge Vazquez.

You don't have the general population to fall back on for your historical & future trends.  

In Southern California, multi-family properties offer potential for appreciation along with some cash flow, given the steady population and desirable market, but higher property costs, taxes, and insurance can eat into your profits, and finding a suitable unit in your budget might be competitive.

Understood Facts: As demand for affordable housing grows, mobile homes present an attractive entry point due to lower initial investment and high potential returns.

Rates are in the high 5.00% - low 6.00% range for "Mission Driven" assets with rents <=80% AMI Net Max Rents.

@Aaron Mazzrillo, Hotel income, as you may imagine, is highly cyclical.