Have you talked to anyone who tried to purchase in Orange county, not realizing you cannot short term rent, and then ran into problems and had to switch to long term? 

I bought my first property, a duplex, when I was 21 or 22 In Orange County, California.

@Jonathan Valdes I’ve used Dan Meyers out of South Orange had a good experience with him.

Since you are looking to buy and hold, what he does and how he does it may actually have very little application to your situation as you are comparing apples and oranges.

Others, some of them with decades of experience in financing and financial regulation were cautioning those who might read your initial post and be inspired by your enthusiasm that the methodologies being exposed could land you in the cross hairs of the regulators.I understand Orange is the new Black and all, but for some folks, orange just isn't that flattering.

These are both on the Orange line, which gets you downtown very fast.

Maybe strategies for a competitive market too (I live in Orange County)Thanks in advanced!

These addresses are all in Orange County, CA.

Agricultural properties happen (want a strawberry farm, or orange orchard?). 

Auction site is legit though, I just purchased a property in Orange County via Hubzu.