Denver, LA, San Fran, Phoenix, etc. are all "hot" markets and with great market fundamentals.

@Mike Williamsyou can invest in multi family in inland empire with 100k down. duplex to quadplex are available in Hemet, San jacinto, Lake Elsinore, San Bernadino etcContact @Aaron Klatt  to set you up on MLS listing.

If this is in the City of San Diego then you round down if the fraction is less than 0.50. 

I feel I have a found some leads in my area outside of the Austin/San Antonio market.

I live in San Francisco.

At the moment I am closing on a 34 unit in a solid C class blue collar neighborhood at approximately $7,000-$8,000 per unit under market and rents are significantly under market too.To think, as a lowly paid Catholic School teacher with a combined family income living in San Diego,  I just started investing in a little 1br 1ba in San Diego in 2011 and now by May 31st will have 8 apartment complexes and 4 single family in NE Ohio for 122 front doors and rising on my way to 1000 front doors some day.If I can do this, anyone can!!

Are there any investors out there that invest in San Bernardino, prices seem good but I know the areas are not the greatest.

market with very low cap rates.I've placed offers on no less than 3 properties so far with a partner in the San Fernando Valley area with the goal of developing MF properties.

I'm down in sunny San Diego but coincidentally working with a referred solar project up in WA so looking into local policies. 

If for whatever reason your relationship sours, you could have a nightmare on your hands.this is easily done  its called  Tennant in common .. or TIC for short.. you could have problems though with a lender just lending to a % owner of the property or one tic Trustor.the loan can also be as to a certain % of the asset.. but that's usually someone like us that is a Private lender deal maker :)  conventional banks you would want to check ahead of time to see if they will lend on TICS this was quite common in San Francisco to get around rent control by the way.and of course on the flip side on the lending side we do multi bene loans as a matter of course in states its legal in.like in Oregon its ILLEGAL to do a multi bene loan ..