This of course is municipality specific but that's the general theme I observe.  

As a seasoned professional in the residential construction and development industry in the southeastern United States, I have witnessed firsthand the rollercoaster ride of economic ups and downs over the past 25 years.

Ultimately, I want to quit my job (of course), move to a new area and focus on REI.

I can tell you I am often cautioning new investors to the incredible risks they are taking and try to help them understand it is not all as rosy as those seling courses or you tube videos claim.A lot of people have made money in the last several years not because they are smart but because they were the beneficiary of an unprecedented increase in prices and rents. 

My plan is to steadily acquire smaller multifamily properties and eventually roll them into larger multifamily deals, which is a natural fit, given my professional background.

Being specifically located in CA could help marginally, but you may also pay a much higher fee due to the higher cost of living (depending on which part of CA of course).

Despite not currently owning any properties, my eagerness to delve into the realm of real estate investment is matched only by my commitment to forming strategic partnerships with seasoned professionals like you.

Neither of us will be able to get the real estate professional status nor will we be able to make use of the STR loophole.

I think this really just depends on the tenant of course. 

Im not knocking these people, but there is a reason there are professionals around doing this all day long in the first place