I don't buy in California, so, I might be a little jaded - so, take my advice with a grain of salt ;-)So, if you put down 20%, that's 55K or so.

I'm jaded so take it with a grain of salt. 

As part of FIG I am noticing very stable jobs in the South Salt Lake/Lehi areas that are a little less affected by Oil prices.  

If you aren't thereto personally oversee maids, repairs etc. it can be very expensivei know ocean props require a lot of maintenance upkeep just due to the salt in the air (my aunt had a 2nd home and talked about how the salty enviro eats thru everything sooner or later. 

If your property is in Galveston then be prepared to deal with a ton of more maintenance due to the salt water and air that rust out everything.  

Did not go to college so take what I say with a grain of salt.

It is very typical, and sometimes lender required, to have the exterior of the home sprayed for termites which costs about $600.

Even the old salt investor types pay too much and under estimate.

Disclaimer: Take my interpretations with a grain of salt. 

I do vacation rentals in Florida, so I have gone with a pale blue-green-gray color called Sea Salt by Sherwin Williams- it's fairly neutral but quite calming.