thanks @Deanna McCormick I have a good idea about the rent rates, I was mostly concerned with any legal issues with raising rent to market.

Since they sold something there they have a decent idea on price, neighborhood, how easy/hard it was to sell etc. 

I could go on but I think you get the idea.

But I think in all cases using a Wholesaler might be a great idea, but I can't get over the fact that if they have these great properties.Why aren't they doing it themselves? 

Do you guys have any idea of good places to invest outside of California ?

No matter what creative idea I try to give them, they wont listen.

I'm still in the process of studying up, so I can have somewhat of an idea of what I am doing.

I know the BP podcasts have a lot of info on investing out of state.I live in the Twin Cities myself and the idea has intrigued me although I do not think there is enough future appreciation potential in the smaller markets for me to invest right now.

I have some cash to be ready to jump in, it isn't that bad of an idea.

I have hotel experience and have an idea to offer the owner to lease the property maybe with option to buy and also hopefully negotiate a couple of point for myself the property sells while I have a lease on it.