Keep in mind that CA doesn't recognize the real estate professional status so you'll only get the tax advantages on your federal taxes.  

That is a related observation.The fact that the same thing is happening across multiple markets just confirms nationwide low inventory.When you add that to overpriced listings and cap rate compression in the face of record low interest rates,that has to have you worried.If you've invested across at least 2-3 RE cycles,you can't help but recognize the feeling of deja vu.

The waiting period required for Chapter 13 bankruptcy actions is measured as follows: two years from the discharge date, orfour years from the dismissal date.The shorter waiting period based on the discharge date recognizes that borrowers have already met a portion of the waiting period within the time needed for the successful completion of a Chapter 13 plan and subsequent discharge.

I may recognize the Asking price is way too high or the rents are below market rates.  

Even google maps does not recognize the address.

They've put together a very professional looking offering with a lot of data but of course I recognize it's incumbent upon investors to do their own due diligence.

The program does not recognize the ctrl+c when text is highlighted and the phone number field pretty much only allows you to type rather than copy paste.Overall I do not have daily frustrations with the system daily.  

I find many agents are bringing better deals than many wholesalers but part of that is probably because there are more agents that recognizes a good deal.  

and recognize quality when we see it.  

Recognizing your own strengths and weaknesses up front puts you years ahead of most new investors.