I lucked into one of the cheapest condos you can buy in Laguna Beach, CA.

I don't bother with incorporating in CA, just file out of state and get a cert of foreign status. 

Itemize it and some states such as California you don’t do it yourself and charge them because they don’t allow that, get get professional companies.

Similar to CA. 

I know I shouldnt be searching for the perfect deal, but that's what I've found myself doing for hours in out of state markets since the market here in CA is so inflated right now.

Hello Everyone,I am a new investor who lives in southern California, which we all know is not an ideal market to purchase rentals for cash flow. 

@Ernesto GutierrezThis is California ?

Anyone doing this in CA?

I am in CA, thus an out-of-state buyer.Per MLS (at asking price), P/I is $597; Prop tax is $139; Ins is $35 = $771 of known monthly expenses.With 10% Cap Ex ($170) and 10% Property Management ($170); my initial calculations were:Monthly gross of $1,700 / $20,400 Annual ------ NET: $589/ mo ; $7,068 / yr = Cash-on-Cash 23.56%My financial situation:  I have about $30k in various accounts that I can use as a down payment.

There are definitely opportunities to improve your chances of purchasing a property as an agent but you have to remember in California it will cost approximately $5,000 a year to maintain your license.How long have you been a pharmacist?