These are upscale properties with amenities like access to web and cable TV, pools, gyms, etc.

found the probable base cause of the recent downturn in foreclosures - Press Release FDIC Statement on the Status of the Legacy Loans Program FOR IMMEDIATE RELEASE June 3, 2009 Media Contact: Andrew Gray (202-898-7192) The FDIC today formally announced that development of the Legacy Loans Program (LLP) will continue, but that a previously planned pilot sale of assets by open banks will be postponed.

Even at 50% discounts in CA, you would be hard pressed to positively cash flow some properties.

For a cash out, you may be hard pressed to find a lender that would go above 70%, or $77K.

and they are all over town, and i im pretty big believer in the rule"if you have to advertise it, its not as good as its craked up to be"for example you see on tv advertisements for people to go to massage therapy school and "get the career of their dreams" have you ever talked to a message therapist?

They'll complain about someone's stereo or TV noise or coming in at all hours.

The wealth of knowledge in these forums one would be hard pressed to match.

Continuing to press on after two or three, for a normal person with a normal job is where is starts to get uncomfortable.  

Every 3 hours I press A button on my phone and another craigslist ad goes to the top of the list to rent out one of my vacancies.  

In my very uneducated opinion, based merely on the lessons I have received in the streets and I must disclose that I watch/read zero news and don't own a TV, this isn't a buy and hold market in SoCal.