Note I'm not contemplating repairs / maintenance type stuff, such as sewer mains or 1) Moving a home to a new location (as in so expensive you're nuts to contemplate it)2) Replacing / significantly changing external look / structural elements / adding a story3) Replacing vinyl siding with full brick or stone all the way around4) Replacing old heating (baseboard radiant) with new, such as a heat pump and forced air5) Updating Kitchens6) Updating bathrooms7) Replacing floors (like carpet to hardwood or stone)8) Updating fixtures9) Painting

(Think herd mentality)Nothing new, been through a few of them,.....I checked that one prop the OP posted, those are everywhere, non cashflow, lots of renovation needed types of places.I say, "let 'em sit for awhile and stew" better deals for those that wait and keep looking around I'm thinking.Yes, LA has a housing shortage currently, and it's not the first time.We're in no hurry to buy at the top of any cycle, especially considering the sq ft costs being achieved right now in sales.Might be cheaper to build new in another state than pay $279 per sq. ft here with less than grade A tenants,...Unless throwing 120k - 150k down is easy for you for 1 property,....I say go.I'm not so rich I can afford to be cheap, (or silly) with my dough.my .02

Has anyone herd of CAMELS Rating system..Please give me some insight.

That would seem to indicate a "rushing-herd" mentality, which is a huge issue for any investment strategy.

If you guys think this is fine and good, keep on herding with the sheep.

I built a custom home last year in Northern NH for about $180/ft but that had a private well and septic with higher end finishes (quarts, custom cabinets, radiant heat, wood floors, ceramic tile, cathedral ceilings)

Going against the herd is always difficult.

You should also be in touch with @Cheryl Packhamas she is the one herding the cats.

Stay away from the herd of what everybody else is doing.  

To think that the herd has everything figured out and to follow them just creates more of the problems they already have.