One very fascinating tell was a  borrower who owns a $20mm property and is delinquent on a $4 Million Interest-Only mortgage in a very vibrant, big city.

I read on here that there are some parts of it that are reviving and are quite hot markets.The suburbs are a totally different story- several of them are very vibrant economically and socially.

Consequently, they can do what you want to do but faster and cheaper.So if the flipping ecosystem with all of the cards falling in their favor can't find a plethora of great deals, are you really, really, REALLY sure that these are as good as you think they are?  

They don't think about fees, commission splits, etc. and the Million Dollar Listing ecosystem only enhances the perception of a near-infinite upside.

Just adding to the topic, I last hung out in the area back in June after Social Grounds Coffee Shop and Hyperion Brewing opened and it was already feeling pretty vibrant.

@Kevin Lefeuvre it wouldn't shock me at all if VRBOHomeAway was in the process of changing their process to eliminate the ability to contact the guest outside of their ecosystem. 

I'd definitely explore some of the more vibrant parts of the city (Brady St., Lower East Side, etc.) and see what you can find.  

Also, I would say don't get married to just one strategy ... in dynamic, vibrant, and highly profitable markets like SoCal, the market is always shifting, which makes some opportunities more attractive and others less attractive ... the best long term professional investors I know in this market have the ability to shift their strategy as the market shifts to take advantage of the best opportunities available at the time, while still hedging their bets to protect their downside if the market shifts away from them on stuff they already own.

I see the future of real estate investing as one where the landlord makes a unit deeply integrated in the community and location, a trendy, vibrant home that transforms it from just a boring unit to more of a community hangout spot. 

Investors AND Agents/Realtors are digging hard enough for it.Let me explain...How can an Agent or an Investor decipher what's realistic when every market, every zip code, every city block is it's own eco system of real estate activity.