Laurderdale areas therefore after much research, thought about starting our venture out there.At the same time I would much prefer to start in CA, and have an acquaintance that is heavily in the LA market. 

Weigh properties close to and more like yours most heavily.

We were heavily leveraged but not over leveraged (very important because we did not need to sell when the market was later depressed). 

And am heavily leaning in that direction.

The few that are, are not heavily discounted.

Buying with cash also allows investors to buy heavily distressed assets that would not otherwise qualify to residential or commercial financing.The con involved in paying cash is you greatly limit your buying power.

This business relies heavily on relationships and if your broker has been in this business for 2 decades, I’m sure there is potential for you to grow your network with their help.

So any cash flow projection that is not close to the 50% rule should be heavily scrutinized. 

meanwhile you've got other properties heavily leveraged. 

If you are forced to sell or compromise because you are too heavily leveraged your source of funds will turn predatory and gobble you right up.