The prepayment penalty isn't ideal but based on your goals, it sound like it'll work. $10k - $12k sounds a little light for renovations.

I am new to BiggerPockets and to real estate investing, but topics like these are not only interesting but very helpful in developing a good understanding of rental property management, and investing.

I have seen posts/articles that mention end of year is a good time to buy deals but on the other hand the holidays are not ideal to find renters. 

Because I’m looking for cash flow (a lot of that because I will be bankrolling a portion of the down payment with my HELOC, but also because of low appreciation for the area), I want to ideally see $200/mo per door.

But, it's a tough market, and CA is getting harder to develop in, especially in the coastal areas. 

I am looking to start investing in real estate to supplement my income, pay off my student loans, and eventually develop a substantial "passive" income stream.

Hello All,Has anyone done business with the Ocean City Development company out of Massachusetts?

I personally know many examples of people losing thousands and in one case over a million on a property that the "developer" or seller sold them of which they did not get clear title. 

I have been an entrepreneur since 2004 in the marketing, social media and website development field.

All of the contacts we developed, to include the mortgage broker and property manager, were referrals.