I hear renovations tend to disrupt the energy.

There are options that have no seasoning requirements, but they tend to be slightly more expensive so it's really up to you how you'd want to proceed.

Hey Stephanie - If you’re open to STRs, they tend to perform well in Orange County.

That is absolutely nuts...We had Zillow and they kept upcharging and the lead quality went down.

You should make sure that in the worst case scenario (no rooms rented out), that you will be able to afford the mortgage.Even though it's unlikely all the rooms will be vacant, its equally unlikely that all rooms will be rented out for a long time, room renters tend to move around a lot so you still want to make sure you're prepared for the vacancy, as Koren mentioned above expect leases under 12 months.  

FYI I think that low CAP rate is sub 5%, please correct me if I am nuts. 

Because tenants tend to be really stable, they are easy to manage though so they can still make sense for someone looking to park money into real estate with the least amount of hassle (property funds itself, tenants pay off mortgage over time but little to no cash flow).  

People tend to not think about how many devices they have using the internet. 

We have found that those who are unemployed and pretty much housebound are the ones who tend to disrespect the property and have too much time on their hands for nothing good. 

In terms of strong markets, I tend to look at major industries in an area (hospitals, universities, military, etc.) because I want a large tenant pool.