I choose the tenant based on credit and rental history without any set ratios as the quality of applications varies from one neighborhood to the next.

@Ali Boone I live in mid-city/hancock park.

Yes the San Diego market can be a tough one to get started in, if you decide to invest out of state choose cities in safe and economically diversified areas with above-average income and population growth.

@Mark Moore I like the Trulia guide for cities.

Home up for auction in a great neighborhood, suggestions on how to obtain it with a hard money lender or cash buyers?

Especially if you have mature trees on the property, you'd want to inspect lines that were that age if you were keeping the property.If sewer line problems were a common occurrence in the neighborhood and having had them checked could be used as a selling feature, great.In other words, no, don't do it.

Newbie investor here from iowa city area.

@Shaun Vembutty,What neighborhoods do you build in?

It will give you a more accurate rent rate within that neighborhood.  

You are not going to put in a farm sink and marble if you're no where near a farm and your neighborhood is filled with Millenials.