You should heed the advice given before and get your financial house in order first and then find yourself a good Realtor that knows the area to help you find the right property for your purposes.
Best of Luck,
Legends Realty Group LLC
Check out the city's Web site at: http://www.santa-clarita.com/
Feel free to contact me if you want to see investment properties available in Santa Clarita, CA
As a new investor I would suggest you first get your financial situation in order (all buyers should do this first). Contact a mortgage lender, tell them what you want to do and let them guide and educate you about current financing options that are available to you.
Then, once yo know what your financial capabilities and limitations are, you should make an appointment with a Realtor. When you meet with a Realtor, describe your needs and expectations and then allow the Realtor to respond to what you say. Also, you should inquire about how the Realtor works...to make sure the two of you are compatible.
I'm quite sure that by the end of the discussion you have with a Realtor, you'll walk away with a better understanding of the processes and challenges that you and your Realtor will face over the course of your transaction.
Also, make sure the Realtor you work with is technically competent. Why? Because if they aren't you risk not being offered the ability to receive automatic market updates by email from the local MLS system and this can put you at a disadvantage to other buyer's in the marketplace who are benefitting from the MLS's market update system.
Generally speaking, co-ops are not good choices for an investor as many/most have rental restrictions. And those co-ops that may currently have more lenient rental policies may change them in the future. (It's more risky to buy a co-op and expect to be able to rent it out easily/profitably)
You should also have an accountant and attorney in mind as you set out to buy an investment property so that you will have quick and easy access to their expertise when needed. (Realtors aren't attorneys and they're not accountants)
Legends Realty Group