We manage several hundred rental properties throughout the San Diego market and I found your post very interesting. 

It is hard to pin down specifically, but that seems to have been a factor in a few of the ARV-Appraisals that I've seen and has impacted the refinancing process.Otherwise, it has been a great market for my clients, great cash flows and repeatability which has really helped as they have scaled.

I have been investing in the stock market for 5 years and I am now transitioning over to real estate after doing my research on real estate for the past two years. 

All indications here are of a pretty healthy market. 

My first duplex was a turnkey, off market property.

@Ella Marie, I can't speak on behalf of your market, but in my respective market, competition is tough, and the successful fix-and-flip vendors are often full-time operating businesses.

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

@Nick ConnorsIt’s great that you’re using your savings to invest early, and Columbus could be a solid market given your familiarity.

Seller (also the agent) purchased it in Jan 2023 for $730,000.

@Jonathan LudizacaIt really depends on the market.