There are a lot of markets with solid job markets, strong populations, solid rent growth, but when you are talking ONE property, unless you are considering highly rural areas, it likely doesn't matter.  

Hello All,I'm considering buying a small home on a small lot in LA.

Perhaps consider asking the good tenants if they know anyone "like them" that are looking for a place to live?

From what I’ve seen in Forbes, the infromation on market trends can also help pinpoint the best neighborhoods.One last piece I’d consider: do some legwork on rent comparables in the area so you’ll know your break even numbers from day one.

For less risk, consider hard money or a business LOC.Remember that LLC might help in tax savings if you are going to have decent profit.

I also consider this entire Arbitrage / master lease as passe'.

So far I am basing it on customer service.

Wouldn’t this be considered being a broker which requires a brokers license?

Any properties you’d consider swapping out for higher-yield options?

Qualified applicants that get priced out of rapidly improving neighborhoods will move into these areas but it seems like they aren’t biting.High quality, lower income applicants aren’t stupid and they won’t settle.If you think this area is a losing proposition, I would think about selling and not banking on hope.In regard to vacancy, I don’t consider any area that has average occupancy (economic and physical) below 95%You might pay more for a better area but time will treat you right and you’ll make a ton of money in equity over the long term.