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.

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.  

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

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).  

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. 

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.

I just put them up on the AMHA search myself and put my PM as contact but I tend to be hands on.

The weak point for the house is a sloping driveway that leads to the garage door where there is a drain opening right before the garage door and the water tends to be sloped towards it. 

Rents tend to rise over time, amortization steadily increases equity, incomes rise, so the investor has a lot of “cover” for unfortunate timing or operating “mistakes”.Number 2 - periods like 1932 - 1941 and 2008 - 2013 are much harder on this strategy.