I am currently working for a local on your lot builder.

I’ve got multiple properties in several areas all of which are still fairly local which means if something happens in one community I’ve got locations elsewhere to help compensate.

Quote from @Marcus Ball: After struggling with local rehab properties in California, I switched to build-to-rent developers and chose a 1031 exchange.

It’s still rough and has plenty of room for improvement, but I can upload photos of a distressed property, tax records, comps, lender rates, and local rehab costs.From there, it analyzes the photos to identify repairs, explains why they’re needed, estimates costs for each item, calculates the total rehab budget, determines ARV based on comps, and provides an expected return—basically automating a lot of what spreadsheets already do.It’s not meant to replace an analyst, and of course, everything still needs to be verified.

I'm an investor but new to so-cal and was interested in meeting some other local investors.

You can also do value add STR & Multi-Family Rentals by starting with distressed properties and using a bridge loan to acquire them with a lower down payment compared to a DSCR loan.Networking – Connect with local investors, wholesalers, and realtors in your target markets.

There's a local PM that I believe knows a lot of the ins and outs of this, @Drew Sygit

You give up some upside when sitting out a bit, but you save yourself for another battle down the line. seems like you can make things work by investing in local markets, so don't chase the paper dreams of long distance markets just yet. 

We only lend to experienced rehabbers who have been doing this full-time and locally.

Typically the excuses that are given are the same, 1) Property Tax Increases 2) Insurance Premium Increases 3) Adverse local market conditions.