Bigger Pockets was one of the first resources recommended to me, and it's been a gigantic help.By way of background, we reside in Orange County, CA, and just within the last several months finally emerged from the smoking ruin of the Great Recession.

Hey Wesley, in Southern California, a 5-6% cap rate is fairly standard, with highly desirable areas in parts of LA, Orange County, and San Diego having cap rates in the 4-5% range.

I have been looking around for a duplex or single family resident that has + cash flow in Orange County or L.A County but I cant seem to find anything..When I'm lucky I can find one that the rent comes close to mortgage payment with impounded taxes...Once you add the 50 percent rule for expensed then forget it its very negative..We look through the MLS and we cant find anything...Is it time to consider auctions at the county court house ?

I would go back to California in the 80s, Los Angeles and Orange County specifically, and buy houses and apartment buildings by the dozens.

Maybe I'm searching in the wrong places but I just don't see many note investors doing deals in Orange County California. 

I look at the cash on cash return and it is not a whole lot higher than my single 5BR house but that's apples to oranges I guess comparing a 30 year mortgage at 3.75% to a 20 year at 5.25% or whatever commercial is going for now.  

From the auctions in Orange County from July 30, 2015 to August 18, it seems to be the case that auction winning bids are less than 15% discounted from market prices.https://docs.google.com/spreadsheets/d/1Gta1Q8JMFC...

I live in Orange County California.

I'm from California as well but in the Orange County area.

There is also local meetup for West Orange/South Lake investors.