My guess is that there are NO similar properties in the neighborhood, so the appraisal compares apples to oranges.

So I am comfortable with it and I believe it has great potential being that it is so close to Orange County, the mountains and even somewhat close to LA.

It is a painful and embarrassing lesson learned and won't be repeated  or easily forgotten:NEVER  RESPOND IN HASTE OR ANGER!   

It might be that in your market but I am in Orange County California and there are still agent out there that list the property overprice.

I currently own one rental property in Orange County and am looking to invest in more affordable areas outside of California that have a higher cash flow on rental properties.

BTW, if you do get stuck with a grotty appliance and have to deal with it yourself go to a Dollar Tree store and look for a cleaning product called "Awesome Orange".

I have only been on BP for 3 weeks, so I appreciate you helping me with these "low hanging fruit" questions.  

Any tips on great contractors that can get this job done in Orange County.

The incremental cost is not that much more than building a minimal size ADU.Here is what I see as an interesting ProjectCity of Orange, Tustin, Santa Ana, Garden Grove, AnaheimPurchase Price $750-$850k, 2300 sq ft on 7000 sq ft lot.Convert part of the existing 2300 sqft house [150-499 sq ft] as a junior ADU [Extra bedroom, attic or basement etc] attached to the existing structure - $30-50k in cost - Market rent $1500+Use the 1800 sq ft or so for your part of the house.

In a meeting the list of crops is decided for the year, the farmers do all the planting, care and harvesting and each months when the season starts the members get a basket of fresh organic fruit and veg.