They put out the list every quarter and you might be able to find some deals because those owners are paying an arm and leg in taxes once the property is classified with those distinctions.

I have an ocean view triplex in Orange County, CA.

I found out later they were charging the tenants an arm and a leg to just get an application in, among other things.

On paper it may look good but as Taylor said, you will have higher turn over, more problems with the tenants, etc.There are markets in Canada where you can still cash flow and buy a good house that doesn't cost an arm and a leg. 

For instance I've been watching a property in South Orange for quite some time.

18 pounds of hot mud (setting-type joint compound powder to be mixed with water) cost $11 at the Big Orange Retail Giant.Should the repair wall areas require priming, a quart of Kilz2 costs $8.00.

There are some great Meetup groups here in Orange County where you can network and learn.

Be prepared for tears or anger.

I am looking for flippers in SoCal - Los Angeles or Orange County area.

I'm up the road in Orange County but love San Diego and will most likely be looking south to live and invest in the near future.