On the negative: Cost to buy properties is slightly higher than the national average while cost to rent is lower.  

It is possible that you can find a second through private money or very select hard money lenders but it is unlikely as most lending institutions are going to want to be in first position. 

In addition to commercial brokerage I did store development for a national retailer for ten years and can't tell you how much crazy language we saw across the U.S.  

SD total profits long term are among the best in the nation ... the trick with SoCal is in hedging your bets in the short run and opening up your mind to the possibilities.

Most recently, Derrick managed over 500 properties via a third party property manager network covering 13 states for a national property management company.

@John  welcome to Buckeye Nation!!!

I think the hot market status will continue after this national boom dies out.

You'll only be able to get 65% to 80% of LTV depending on the institution (70% is typical).There may also be a seasoning period for some banks--6mos to 12mos before you can refinance (get a mortgage).You can set your LLC up with maybe $1,000 in the bank and then loan your LLC the funds to buy the property. 

Haven't been able to find a savvy real estate CPA that can do both, national and international real estate taxes as well as foreign earned income (given that will start soon renting on Airbnb).

Durham has not yet tipped on the national vacation radar (though with the PR coverage in Vogue and other mags, I think that is coming).