Small market makes it tough to find a manager who cares.

I think it's a good exercise that some farther down the road have not done in awhile.High value markets are very tough.

I do most of it myself and enjoy the activity but the frequency and timing of the calls making it a problem.Some of the Tenants make a pet rock look smart and call and complain about everything.Others never call and handle minor issues themselves.I'd like to get a handyman to handle the calls but to have even a low priced Handyman go to the property, check out the problem, resolve the issue with 5 minutes of work and use no materials, because the tenants are pre-Madonna's or are too lazy or stupid.  

The podcast, blogs, and forums are full of GREAT material.

We can only make educated guesses based on  historical norms.We are due for a recession at some point but its tough to forecast exactly when so why try?

That's a tough neighborhood BUT I believe you were right in the areas revitalization happening.

EPDM is a wonderful material.  

But if owning your own home is priority, then take advantage of the 3% FHA down payment program.You will have a very tough time finding a cash flowing property in CA, unless it's in not so good location.

For 2015, it looks like that will be tough to meet.

California is likely to continue to appreciate due to the limited space in the coastal areas, however, I don't think rents will keep pace.I'm a big advocate of investing where you live, but its tough for California right now.