Since 2000 the top 3 nationally for total returns cash flow plus equity are LA, SF and San Diego. 

I also have about $40K of severance pay coming in too but I will probably need that to live on for a while.If I can get access to my 401K funds I would maybe be interested in buying something out of state in the NW Indiana area because that is where i grew up but came to San Diego in 1989.I will still probably get another regular job for a while but I don't think I can make anywhere near what I was making when I got laid off.

I've also assumed that I could get the property for 90k rather than 105k and that it would take 5k in rehabs and 3k in closing.https://www.redfin.com/TX/San-Antonio/450-Tulane-Dr-78228/home/48896162https://www.biggerpockets.com/buy_and_hold_results...

There is a community of architects here in San Diego that have had great success doing exactly what you are describing, such as Jonathan Segal, Ted Smith, Lloyd Russell, Form for Foundation, Sebastian Mariscal.  

., in and around DFW, Austin, Houston, and San Antonio you should be able to pick up properties like this.

The the cities of Fontana, Ontario and Hesperia and the county of San Bernardino's ED plan is to seize the mortgages on upside-down properties via the eminent domain, not the properties.

I live in San Diego so there aren't as many opportunities here in my price range.

RegionName State SizeRank 2017-03 2018-02 1 Year Rent Increase Kansas City MO 38 1016 1103 1.09 Stockton CA 71 1410 1515 1.07 Sacramento CA 35 1545 1658 1.07 Atlanta GA 41 1316 1395 1.06 Colorado Springs CO 40 1435 1520 1.06 San Diego CA 9 2662 2813 1.06 Riverside CA 61 1822 1920 1.05 Dallas TX 10 1399 1469 1.05 Tucson AZ 29 1099 1151 1.05 Saint Louis MO 57 910 952 1.05Top Best Price to Rent Ratios.

I see you are from the Bay area too, i want to sell my condo in San Mateo and go to the east bay.

Does anyone have any SFR fix and flip projects going on in San Diego County?