Is there any cities you know nearby that's getting more populated or more companies are coming in?

A good realtor can sit down with you and cover these items or you should try to find a grey hair old timer that is willing to mentor you through this process for the cost of a cup of coffee.  

If a neighborhood has a hip coffee shop, nice grocery store, and/or other amenities, for me that is usually an indication that someone (or group of people) much smarter than me has already done their market research to know they won't be losing money on their investment. 

You pay all the utilities; you need a full unit of furniture and decor; you need plates, utensils, pots and pans, glasses and cups, coffee maker, toaster and basic cooking supplies; you need linens and towels, soaps and shampoo and conditioner and blow dryers and basic bathroom supplies; you need laundry soap and supplies; and you have the cost of cleaning on the turn (usually charged to the guest but you still have to manage it).

Fair warning: I get a little wordy so grab a cup of coffee before you start on this one...Over the previous 14 years I'd had tenants who paid late or missed payments.

Side note: I’m also living right outside LA, in Orange County if anyone is available to meet up for coffee or has any knowledge of a summer internship program in a commercial real estate firm!

I've now closed a few more with that lender, shared cups of coffee that lead to 90 minute conversations, etc.  

Start having coffee with guys you meet at the REIA .  

Converted a bedroom and nearby bath into a second master suite.

Converted a bedroom and nearby bath into a second master suite.