I live in Los Angeles my whole life so for my first investment it makes me feel more at ease to know that I'll be near by my property i.e. knowing all the good and bad neighborhoods makes me feel safer investing my savings. 

@Bob Asad investors in high-cost areas do this all the time, but I wouldn't.They are betting on both value & rent appreciation, but it is speculation.

@Brian BurkeI bet none of the investors asked the question of “what does the capital stack look like on this deal”Probably was variable rate debt as well…

I'm willing to bet dollars to donuts they pay below market rates.

Refinancing could help lower those monthly payments, or if it’s just not performing, selling might be the best bet. 

Does anyone have a list of the good zip codes to invest in with safer and higher returns?

I'll bet she's lying to you so far......and you'll need to carry a pistol when you go meet with the water thieves, people don't like having their water shut off.

Also check You Tube... bet you can find a video showing you how to do it!

You can look on Zillow and such for what the LTR for your area is... but bet you it works out that the STR has more potential.  

If I was a betting man, I bet you paid thousands of dollars for something that can be done for $100 and they have ownership interest or referral fees for those entities