If you can withstand the worst case scenarios based on history of the submarket you are in it will give you a better idea of what your assumptions and change to those assumptions can tolerate.

It is always a good idea to start with your backyard.

I'm open to other ideas as well, but thanks for your help so far.

However, my area is nearby to that of @Christine Swaidan's, so the trend may be different in your area.The general idea is that because CA is so tenant-friendly, and because our property costs are so high, one bad tenant can wipe out months - or even years - of profitability.

@Jon Holdman @Darryl Putnam Thank you for the ideas! 

I have a reasonable sum saved up for my next investment and was hoping to share ideas with members familiar with this area. 

Other ideas?    

Great idea!

Hi everyone, I wanted to throw out a question and get some ideas/feedback back from you guys.Trying to soak up as much information as possible before I make my first purchase If you had to start from the beginning,  and you had $50,000 cash to invest, and your ultimate goal was to quit your day job and do this for a living within the next 5-10 yrs, how would you invest? 

I think it's a great idea!