On the other hand, if you are looking for rapid appreciation, you will tend to look at the fast growing larger metros where cash flow is more difficult to come by.

Within another 5 years I had used them all up as rents increased rapidly and interest expense decreased.

I make small incremental changes over a moderate amount of time and they don't seem to notice.

I would consider it a very rough area. and to update this post 43612 is not Washington Local Schools its Toledo Public Schools and rapidly becoming a horrible area.

There are many areas that have HOA rules changing rapidly in our area so just be sure you or your agent does their research so you can avoid any headaches in the future.

I am seeing this area grow and expand rapidly and I am enjoying investing and helping others invest in this current market. 

Homes are still selling fairly rapidly if priced right.  

If you are looking for units, Downtown Riverside area, Eastside (but it is hit and miss), University area (also hit and miss), Canyon Crest (hard to find), Ramona area, La Sierra, Arlanza (hit and miss).If you are looking to go outside of Riverside city, I would look at Perris, Perris is rapidly becoming a logistics hub with a large Amazon distribution center with several large name companies having the same in the area (Lowes, SEKO, Walgreens, Deckers, Ross, General Mills, Hanes, Wayfair, Starcrest, Home Depot, Clayton Homes. 

@Aaron Gordy condos also have not seen the rapid increase in value that SFR and MFR have so they remain reasonably priced.

The incremental cost is not that much more than building a minimal size ADU.Here is what I see as an interesting ProjectCity of Orange, Tustin, Santa Ana, Garden Grove, AnaheimPurchase Price $750-$850k, 2300 sq ft on 7000 sq ft lot.Convert part of the existing 2300 sqft house [150-499 sq ft] as a junior ADU [Extra bedroom, attic or basement etc] attached to the existing structure - $30-50k in cost - Market rent $1500+Use the 1800 sq ft or so for your part of the house.