Or, should I buy a condo/townhome in OC/SOCAL for under $625k? 

Looking for just one building to start, ideally a duplex or triplex.

Bought it for $180k 5 years ago as a buy and hold.Developers are putting $400-600k homes on tear-down properties all around it.I looked at tearing down and putting a 4-plex on the lot...not allowed per code.I looked at tearing it down and doing a duplex...after all costs and penalty of interrupted cash flow...bad move.I looked at tearing down and putting two single family homes...bad cash-flow move.It just seems that with a lot so large relative to the size of the home is in such a hot/in-demand area, i should be able to get more cash flow. 

My primary interest in starting real estate investing is house hacking with a duplex.

I like your thought about house hacking but I recommend a detached duplex rather than house hack with people living in your home (3rd floor).  

Currently renovating a duplex.

With condo conversions carving up the few we have, the number that exists continue to shrink.

Let me know if anything comes across your path. will pay finders fee etc...Below is a list of our investment criteria:Property Type: Condo, Single-Family, TownhomesLocation: All Zip codes except 89030,89101Purchase Price: Below $400,000Property Condition: Fixer/rehab- ANY CONDITIONIf anything comes to mind, please send me the address and I'll get back to you with a prompt analysis/quick CASH offer...

We are looking for small multi-family properties (duplex, tri, or quad) in that area.

Looking to buy at least a duplex or fourplex, by the end of the year.