I'd love to get to know other local investors who have made similar plays and get some advice on the areas I'm interested in investing in.

If that's the case the IRS lien is not extinguished by the foreclosure and therefore the 120 right of redemption does not come into play. 

I understand the intention but have seen this play out bad, many times over.  

Welcome to the BP forums and to the investment game that pays you to play!

@Christopher SmithI do not think it is fair to lump both prop 15 and 21 together as inherently bad. 15 stands to serve the important function of leveling the playing field for new businesses and start ups in California, who are currently paying an unfair amount in property taxes relative to older established businesses.

I would like to hear any stories in which these were factored in and how it played out, along with some suggestions on what to keep an eye out for concerning corners being cut.Thanks!

The dumb answer is making knee jerk decisions and thinking the deal plays out.

For me the equity is a bigger deal, as the long term financing limit of 75% LTV for 2-4 unit play a big roll how much trapped cash I have in the property.

Trevonte, previous experience in real estate investing does play a factor in the lender you work with and the terms you may receive.

I think the safest play is the C to B markets as in a recession like economy, A tenants will fall to B and B will fall to C.