@Tajh Walker, I would seek advice from So-Cal investors/landlords.

@Sara McLaughlin I would recommend seeking out a mentor or looking for work within the real estate field then identifying a strategy that will work for you. 

Take care in seeking expert advice in the forums and you should always start out consulting a local lawyer, some things are unique to your location that others won't have a clue about.

I thought it would be great to hear from others in the area that have had an opportunity to flip a house or even a buy and hold. Just want to hear about your experience. Thanks!

You didn't seek them out.

But in general, distressed (motivated) sellers are the sellers to seek out, and the list of such sellers will certainly only yield one property per seller for the most part.

I am seeking any constructive advice or criticism, as well as recommendations on the best places to purchase these sort of properties.

I read about hard money and private lenders but don't know if I should seek their services or deal with another source.

seeking your help.Richard

HI Troy,Regarding lending based on DCR and cash based debt coverage, DCR is mainly used by commercial, local, and business oriented bank loans, while conventional financing and residential 1-4 lending generally focuses on debt to income.45% Debt to Income (DTI) = $2.22 dollars of cash flow or gross income needed to be shown for each dollar of monthly obligation you're looking to qualify for50% Debt to Income (DTI - $2.00 dollars of cash flow or gross income needed to be shown for each dollar of monthly obligation you're looking to qualify forThe above are some examples as each bank has different ranges of requirements.If the max is 45% DTI and the borrower is seeking a mortgage of 1500 but net rents are 750 then they are seeking to qualify for a net -750 which requires 2.22 times the income to receive an approval which means they need 1665 gross monthly income.Hope that example helps conceptually explain the residential vs commercial lending aspect.