In central california (Hanford) there are basically no short sales/foreclosures on the market.

Like you as a mortgage underwriter, I have many years of experience being a professional supporting real estate investors as a CPA, but I now wanted to become a real estate investor myself.In late November of last year, like you're doing this November, I wrestled with the question of investing locally with a 4-unit purchased with FHA financing vs. investing out-of-state and got a lot of great advice.Like you, my goal is to retire within the next 10-15 years via real estate investing.As a result of some of the advice I've read through the forums (I would recommend you pay attention to guys who have been in real estate for decades like @Jay Hinrichs rather than the younger folks who are often just pushing their turnkey products) and speaking to investors at local real estate groups, I decided that given my place in life I would be wiser to place my bets on California appreciation over the next 20-30 years rather than investing in some beat-down property in Cleveland for an extra $400 or whatever in cash flow per month.Given the facts that (1) I could get into a property for a measly 3.5% down, which would free up cash to invest in other places if I so chose, (2) I was already throwing away rent every month such that I could still be cash flow negative of $650/month (what I was paying in rent) and still be better off because a portion of my monthly payment would be building my equity and the rest would be tax deductible, and (3) I'm in my 20s and have the time to take a long-term view of appreciation potential, it was a no-brainer to go the FHA 4-plex route in LA, despite the fact that it is one of the most expensive markets in the country.This isn't to say that the process was easy.  

California has many cities under rent control, such as Santa Monica.

. $800/yr state franchise tax here in the People's Republic of California, and it doesn't matter if the LLC or properties are out of state, CA still wants this fee if you live there. 

Hello All,  My name is Bryan and I am from Southern California and live in the City of Corona.

It looks like they have branches throughout Southern California. 

Many new CA laws to be aware of.  

@Shamim ToufighianWe have a fix and flipper who just finished this in Cypress Park.https://www.redfin.com/CA/Los-Angeles/601-Romulo-S...It's an SFR but you can see the nice work @Will F. is doing down there.If there are 4-plex deals to be found @Will F. might be kind enough to point you in a few directions.

Hello, my name is Kenney and I'm a beginner investor interested in networking to get as much knowledge about wholesaling via joint ventures. I currently work a 9 to 5 which will possibly impair my ability to go out to...

I'm in the Sacramento, CA area.