when looking to market to sellers....or buyers...you can easily ask..."

I don't know how it is in California, but owner info is public record here where I live in Hawaii, so you could easily get the info and contact the owners or write them a letter.

Couldn't you easily get 500% returns by putting say $5,000 down for a property and flipping it for a profit?

I can easily spend 16-18 hours a day constructing deals (i.e. writing contracts; sending out emails; talking on the phone; etc) w/out getting mentally, physically tired.

Yard needs better drainage to get water away from home but I can get this done easily.

You wouldn't easily be able to take a shower and use other significant water sources simultaneously.What kind of leverage, if any, do we have in this short sale to make sure these things are fixed and in good repair prior to closing?

It raises the discount rate just as easily as it lowers it.

When I have to change tenants I can easily delete the old tenants code and put in a new one.I thought this was a great idea and just wanted others opinion why this would not be a good idea or why you are not using this method.

It is very disappointing that one persons "opinion" can sway a deal so easily.

If you can truly get a feel for the "best" place to invest - nowhere near as easy as it seems, and no the answer is not simply where you can obtain the highest current cap rate (which btw would be downtown Detroit) than you would easily make up for the disadvantages of investing outside your immediate area.