I think Orange County California may be a little different than a lot of areas.

Graduated with a BA in Psychology from UT..Go Big Orange!

So I have the potential to purchase a property with 3 units on 5 acres, which includes a ton of fruit trees that are taken care of by outsourced farmers (small check to owner).

If I was not already prepped with some knowledge of investing, my meetup with that old college friend would not have been as fruitful as it was.  

Here's an example of my market in Orange County (SOCAL): Average sale price has just hit over $675,000 county wide.

Try to get something as close to the orange line as possible if you want to get the highest rents and young professionals.

I've been researching this niche market for the past two weeks, both through books, podcast and online articles, and feel there is opportunity in this class.I'm finishing up a book called "Deals on Wheels" and find the asset class very, very interesting, and will be meeting with a local investor in CA who has been in this space for years and is willing to share his thoughts with me.I started considering this asset class in California because the housing affordability in my area (Orange County/Southern California) is running at about 18%. 

An example is if a note had 3 years remaining that was paying 4,000 year but you paid $10k for it, your ROI is 40% but your overall return (interest rate you paid yourself which is IRR) is much lower.Where to find notes - you can find them everywhere but the low hanging fruit you will pay retail and have lower returns.

As for customer service and relationships...my bank agents are nice and easily accessible, however, those relationships have yet to be fruitful in terms of lending.

I preference is to buy out of state because it is virtually impossible to buy anything  around here in Orange County CA that will not be cash flow deep negative without putting down a boatload of money.