The short is, you shouldn't be looking to invest right now, you should be looking to learn and connect with other local investors.You have home ownership under your belt, so you want to build on that.

I live in California and I am looking to get into the local market.

  +1, go market it everywhere local businesspersons congregate. 

Raymond, Go to your local REIA (Real Estate Investors Association) with handouts (color works best) about your deal.

And yes, RE prices have now dropped dramatically on local vacation rental homes.Your 5-6 bedroom home strategy makes sense and we are currently seeing the highest demand for that home size.

Hey Jesse, I'm a local investor in Ft Myers, good to connect. 

I do believe it will help, giving me access to the MLS and can run comps and have knowledge of the market.Also, will be looking to house hack and buy and holds if I can get all the pieces to fall together.Will be attending meetups to network.Will be searching for my own deals with some local realtors.

A good way to find cash buyers is to visit your local REIA group.

i BRRRR locally and it's hard. 

One lease for the entire house.I've got loans with 12-13 banks in my market (Columbia, South Carolina) and almost all of them are smaller, local banks.