If you have the money and you can do something with it in California and you trust that the money will grow more there, then that's what I would do 

When you get your name on the distribution list, are you then "in line" for a distribution every quarter, or will you need to call and request a distribution every quarter.  

Then they realize it didn't and they need to find a new way to make money to keep the real estate investing going.  

Always be weary of the 3-4 unit buildings that were built as a single family and then concocted into multifamily.

Moore then willing to chat with anyone who want to love sharing and connecting

I think @Brian G. and @Jaycee Greene hit it on the head: an event occurring/debt resetting.When the debt forcefully resets on some of these assets, valuations drop if the submarket cap rate has expanded and/or if the operator can not show a good t-3, t-6 etc due to economic vacancy and rising opex (insurance, r&m etc).If the operator can't inject equity to cover the difference, then trouble arises.

Live in an area for 2-3 years, self-manage the property, and then relocate again, passing the baton to a property manager.I’d love to hear advice on any of these markets for making this approach a success!

The worst thing is to pay for a service where you don't get a benefit.If you have STR's and actively manage them, then there is a good chance that you can treat the propreties as active instead of passive which will allow you to offset the losses with other forms of income such as wages, interest, dividends, gains, etc.

Alternatively, waiting for rates to drop and then moving might give you better purchasing power.Ultimately, it depends on your cash flow goals, risk tolerance, and long-term strategy.

The other questions below are for everybody.I have assumed for several years that, if I hold a tax lien certificate on a house with equity, and the owner can easily be located, as soon as my lawyer starts a foreclosure action, if the owner didn't have the means to redeem the certificate, shrew investors would contact that homeowner, offer him some cash for his equity, then, once such an investor acquires the property, he will redeem my tax lien certificate, and all I will only get back is some of my costs plus interest.I haven't had the time to digest the implications of https://www.azleg.gov/ars/42/18204.htm yet.