I have experienced some of these very circumstances, and in California.

I've acted as a "deal warning person" to many new California and a few NYC investors who I've talked to in person, Zoom, and phone calls who want to buy the Midwest or South because the price points are lower.  

@Xuming Yu  Hope this helpshttps://legaltemplates.net/form/quitclaim-deed/california-ca...

I am based in Sacramento, California looking to start and pursue a career in real estate!

Hey Justin,I'm from CA and I have been in MS for a few years now, but my husband is a MS native.We are a family owned Property Management Company and we have plenty of experience with owners and investors.I have some ideas that you may be interested in, and I would love to know more about your opportunity to provide some insight.

Quote from @Tom Gorrell: We have 3 rentals in CA and one in Kentucky (total value about 2.5 M)some W2 incomesome pension incomesome syndication income and some from a business (s corp)  @Tom GorrellIf they are providing tax planning and/or bookkeeping with the tax prep, then the price is reasonable. 

I can do 10% down on second home in TX,CA or FL15% down on DSCR for investment in most states

One land speculation I bought 4 acres in sonoma County CA ( wine country) in 96 for 27k it was unbuildable at the time ( could not get a septic system on it) Well city grew to us The Graton Casino comes in right across the street and we sold a few years ago for over 2 mil to a land assemblage investment company.

CA rules do not require a closet but some jurisdictiins in CA require a closet.  

This is relevant for multiple reasons 1) appreciation is where the real wealth is generated in RE 2) real estate has tax advantages over cash flow 3) in CA property tax increase is capped.