Maybe even across the border in Vancouver up to Longview?  

I don't mind giving you my input if you want to provide the address publicly or privately - I've done multifamily in-fill, single family in-fill, and lot split projects (one of the current ones is about 10' from the La Mesa border, so I know that general market).The hard part is figuring out how much any proposed project is going to cost, and how to control your risk in a market where labor and fees are high and the fundamentals don't necessarily support the sales prices.  

If you have a history of gambling problems and not paying your bills, the "asset based lender" still isn't going to give you their money.

Flipping a house, even if Dennis does 2-3 a year, still takes months to complete plus if he has a home office in which he runs the flips from and researches for new property all while taking the tax deduction for it, is all running a business and i would be very careful playing that gameAgreed, this is a highly subjective fact intensive determination and border line cases are notoriously difficult to predict, with selected outcomes at times being contrary to what one would expect.

To me, that is not an investment, but a gamble.

It is basically gambling on trends. 

If your a gambling man it maybe worth a shot.

I do see people being sued for the dumbest things, so as much as I respect @Jay Hinrichs @Jay Hinrichs I would not gamble and take any leap of faith on not being sued.

I don't go to casinos to gamble. 

Seems like you'd face similar problem investing in Newport Beach itself right now, though I imagine your rentals are in other areas - likely close to your 45 minute border. ;-)