Finding equity & market value is a completely different objective.

You might as pick the market that is going to best fit your objectives and provide the best return.

I would appreciate some objective feedbackI'm looking to take a loan from a close family member...I want to give them a decent return on their investment as you would with any other investor/partner that's fair to both parties.

Some locals might object and prevent you from getting that permit.

It is preying on the buying mentality of most consumers by jingling a shiny object over here, hoping they won't look at the poorly renovated investment over there.  

@Paul Botsyan start by clearly defining your investment objective.

The primary objective of most real estate commissions is to protect the public, thus why they restrict the use of certain words for businesses.

No system is perfect, so don't waste your time chasing after the next shiny object.

If your objective is to shelter income there are many other avenues that are easier than Cost seg, have more impact and you can continuously do.  

If you are considering California my biased opinion would be San Diego and my objective opinion would still be San Diego :)Flipping always sounds good but I don't recommend it for those that are just starting out especially in a place like San Diego as you need to have significant capital to make sure you can get through your first deal.