If there are no studios, I’d be a little wary unless you know for sure your demographic will be solo travelers, couples, or people working remotely. 

While CA is generally view as tenant friendly people are still investing there and making money. 

There are a number of guidelines the IRS has for performing a proper cost segregation study (which will pass in the event of an audit) Here is the link to that list on the IRS website:Cost Segregation Audit Technique Guide - Chapter 4 - Principal Elements of a Quality Cost Segregation Study and ReportI have never seen a DIY before, but I'm sure people do it.Depending on the size and type of your property the fee for engaging a qualified engineer-based firm to conduct the study can be as low as $3,000 (lower in certain cases), and the significant benefit created well outweighs the minimal costs.

It's too bad we can't trust people, I know....

@Andrew Reis High credit card utilization brings your credit score down, which is one reason people may not use them.

Lastly, I always caution clients from taking advice from people that might not be experienced investors. 

Some people (us included) keep our contractors close to the chest so it's easier to find banks and vendors (like carpet installation).

I'm wondering if people agree or disagree.

Come out and meet us at some of the free breakfasts, you'll get to know key people right away.  

Also, I've heard people do seller financing, "subject to" financing what does it mean?