However the CF on deals in LA and CA are so low now that nothing looks mildly attractive to purchase.

When I read questions here on the forums asking how little down payment someone can get away with paying (or how to get into a property with zero down), I wonder what will happen to some of those investors and their properties in an even mild recession, especially those buying into what I see as an expensive market. 

It had gotten so bad at one point that a group formed to fight the excessive landlord tax, with some mild success - see the Providence Apartment Association.Personally I am very concerned that various cities and towns have made financial promises they really can't keep (pensions, infrastructure, etc.), and when push comes to shove, they will choose to raise taxes instead of renege on promises or institute needed reform.

In San Diego roofs last a while due to mild temps.  

When you look at this chart, you see that overall there is often a mild impact on real estate prices but not always.

Shedd).Hope this post was helpful, or at least mildly entertaining.

I did that for a number of years and was mildly successful.

When someone sends too many emails, whatever little trust I once had is considerably diminished - and that's putting it mildly.

Nothing like mild southern California weather in early December!

The nuggets of insight was basically  this:1) Go through your business & stress-test it all, as in what happens in mild, bad, & worst-case scenarios.2) Be sure that you are not over-leveraged.