Or you just interested in getting to know more about the industry.

BUT, the insurance industry would not be in business if they paid all claims.

Those who are in socal and I am sure most markets know how tough it is with the bidding wars so I think this could be a good deal. 

Putting it on the market (Of which I can help you get it sold and on the MLS), taking the equity and putting it into a 1031 cash flowing deal, or walk away with the equity if it is listed as your primary and you're able to take advantage of the tax incentive up to 250k single or 500k married. 

Preferred money market is over 5%.  

s local market expertise, we secured the property for $160,000.

Oakdale's growing market further enhanced its appeal.

As long as you like your job and/or industry and could do it for the next 15 years, what you are doing would work perfect for your plan.As you gain experience, maybe you can move into more units per purchase or start to BRRRR.

I need help picking a market.

Borrowing other people's money sounds great but the market prices are high and hard to make profit if you borrow the down payment and borrow for the remainder of the mortgage loan.