Suppose the tenant loses his job? 

Each person has to have something to lose.  

Usually your only option is to lose money somehow. 

I have a personal trading account with little over 30k but I’m very conservative with it and typically when I profit it’s only about 100-500$ a trade or a few thousand a year, but I rarely ever lose money.

My best guess is that with the time of year and rental demand, I would lose $300 a month with a new tenant and it would take 6 weeks to find one.

I have 12 frustrated buyers at all levels, who are losing out on offers.

Either way, my biggest advice is to no lose your mind overthinking it.

What is to come is a lot of people who may lose their homes and enter the rental market.

Over analyze your first deals before committing, don’t let the mindset of losing a great deal make you rush into a bad situation.

The same principle will apply anywhere, but with less appreciation in, say, the Midwest, you'll be losing out on some of the sweet CA equity growth.I gotta say, choosing where to live is more than just an investment decision.