Flipping homes in Los Angeles

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Hey guys,

I’m considering moving out to LA to get into flipping homes there. I’m coming with a budget of about 1-2m (including financing) I have contractors that can do all the work for me at a bit over cost (or at cost as partnerships). What I’m worried about is 

1. The volatility in the market and possible crash coming

2. The ability for a newcomer to get pocket listings and deals that can make good sense. 

3. Does the 1:1:1 formula work in LA?

Any insight will be appreciated.