In my opinion, renting in So cal and holding cash flow real estate is a great idea, just hard for most to execute. Problem is that you have to purchase out-of-state to do so. Tough for the amateur to pull off without inimate knowledge of the rental area. Amateurs will tend to get screwed because of lack of connection to the area(s).
But this strategy is an excellent way to hedge your bets in the current environment.
