Throughout all of this I've picked up hints about the different real estate markets that I'm close in proximity to (I live in southern Indiana about 15 minutes from Louisville, KY) and I figure one of the first steps should be just really getting to know your local market and how it performs and i'm just curious how I can go out and study the market and learn as much as I can about it before I jump into a certain area.

Southern west coast (Naples, etc.) seems to be snowbirds.Tampa always seems to get mentioned as a great investing market along with Orlando and Jax.I have been working with @Kim Meredith Hampton in Orlando and she is an all-star!  

I can also point you towards a few good contractors and property management companies in Southern California if you're interested.

I definitely agree with everyone about looking for more units in your next purchase, but not a terrible thing to try to hold what you have in southern California for the sake of appreciation and turning that property into your bank with refinances.

I also spent some of my earlier years in Southern California, so I have an appreciation of your market.Chicago is a nice place, but it has large sections of the city which are lower income areas.  

Currently residing in Southern California; however, I was born and raised in Monterey, CA.

Anyways, property is located in Southern California and not exactly sure about VA/FHA rules on making up the difference of appraisal to close the deal if appraisal waived.

If an agent has two similar houses to show to their buyer in an area where they normally receive 2.5% for their work, and one house is offering 1.5% commission, and the other is offering 2.5%, you can bet that that agent is going to be a whole lot more interested in showing their buyer the house offering the standard commission.Now, your original post asked about the difference between 5% and 6% - I'll speak to that as an agent in Southern California.

Their are people here in Southern California that are making real estate cashflow.

Bigger Pockets actually showed up while I was researching stock market investing, and something clicked.My grandfather was a Southern Baptist preacher by trade, but he invested in real estate as a side hustle...and hustle he did.