And even some failures. you want to partner in with someone who isn't going to sell snake oil-- but rather have real world experience. 

Interestingly enough they have been tied very closely to the oil industry in the past. 

They may or may not live there all the time with the primary tenant (such as a student who comes home from college, thinking the other way around, there are other examples, oil field workers, military, etc).

If you're fishing for cash flow, are you looking to house hack or buy and hold and not live in it?  

Variables to consider:-big oil tank still in basement.

A wider net can catch more fish!

So the question is do you want to be given a fish or taught to fish. 

The lake has excellent sport fishing, a public campground, a private summer camp, a bar and restaurant with amazing food with lakeside access. 

The best may be oil and gold.  

(Personally, I don't know how CA, and especially Southern CA has done as well as it has for as long as it has, but I'll be the first to say I don't have the mentality of a 'normal' homebuyer.)On the MF side, there are huge incentives for outside money right now (Venezuela's inflation was between 700-1000% last year, and the folks/companies who made their money during the oil boom there need to get their money out of that as fast as possible) so they're happy to be able to park a couple million dollars in US Real Estate, even if it means losing a little bit of money (or making very little.)