I scrub the list to remove things like properties with a mortgage, duplicates, etc. and spend a tremendous amount of time on pricing, because although these offers may be a lot less than retail, they are not out of the question.

@Joe Gallo-I believe David Green's book "Long Distance Real Estate Investing" would help you tremendously.

We see this alot in Avalon and Stone Harbor as appreciation YOY is consistent and tremendous most years.

It's a huge city in a state that has seen tremendous growth.

The laws have bent over backwards providing property owners with the most time and opportunity to keep their property - loan modifications, arbitration, an almost flawless property transfer and sale mechanism, and lenders with tremendous pressure on them to “negotiate” mutually agreeable settlements.  

These resources helped me tremendously in getting started:1.

Real estate appreciation has certain seen tremendous growth in many markets, but many believe we may be nearing the end of a market cycle and heading into a period of low or no growth (if not negative), with negative cash flow is a big risk. 

I am not familiar enough with the rents in Sheldon or Laguna to directly compare them, but I know Elk Grove has grown tremendously in the past few years with plenty of expansion and a lot of Bay Area folks moving to the area.

They both helped me out tremendously and ensured to do what was best for my long-term goals with the RE investing.

Zach has been tremendous to work with, and has definitely been a huge help in advising on topics like tax strategies, LLCs & the best markets for cash flow.