@Gavin Wynn Not trying to be negative just don't want you to get stuck in the rabbit hole like countless others and then take no action.  

only you can determine what the right investment is for you, but with rent at $1700, you'd likely be cash flow negative each month.

I know some people who are doing AirBnbs to get better cash flow - it's negative cash on long term rentals unless you're doing 50% down or paying all cash but most people are looking at California more for appreciation.

Unfortunately many lenders will see this as a red flag and may not take the risk to lend you the rest of the money even if you use stated income program or bank statement program but those are for self employed borrowers who have active income from their business but write off to many expenses that when filling their taxes their net income is really low or sometimes negative.

Typically in these situations the property also is less valuable as well which turns the second into negative equity and wiped out in foreclosure

China has the best economic growth of any major nation in the world over the last 30 yrs from 1994, but Shanghai Comp is actually negative in real terms over that time, while SP500 up 1136%, why?

It’s a negative, limiting stance, completely opposed to the spirit of real estate investing.

Market Fundamentals in the Smokies are negative for the near future.

I just got pre-approved for a property, but finding cash-flowing deals in metro Atlanta has been tough, most are barely breaking even or showing negative cash flow.

The issue is that after a high LTV refinance to extract the value add, the property is large cash flow negative.