It’s within driving distance- 10 mins in Rancho Del Rey, Chula Vista.Will keeping this property (I owe 335k) and taking out the extra equity (value is around 800k+), tie me up as far as being able to finance other investments? 

If you are already willing to do long distance (Semi long from you) why not take the strategy out of state?

You make great points regarding Bakersfield and it's proximity to Long Beach, we have considered this and continue to weigh versus a longer distance market.  

You're very right that starting locally is smart and best for most people, but if you have those resources like your cousins to help you out long-distance, then you can find a way to make it work. 

We first started by acquiring our own rentals and then self-managing from long distance.

Highly recommend Long Distance Real Estate Investing by David Greene.

The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender.

I'm also a programmer and as a part of addressing my concens with long distance investing, I'm looking to develop a portal/tool that can help other long distance investors as well.

Hi, I'm from CA and new to BP/ real estate investing. I own a primary home in CA and am looking to do out of state investing to generate cash flow/ create long term wealth.
I've been reading up on all the amazing con...

Check to David Greene's long-distance real estate investing book.