WIN/WIN BBBAAABBYYY@Ray Lai thanks. i wasnt planning on spending it all in one day, but i was planning on using the credit card to fund my direct mail. 

you should look up Bruce Norris in LA... I

@Kris Lai Thanks for the clarification.

LA is expensive, but diversified and very demanded.

LA is a wonderful place to invest, with high appreciation and low supply.

I believe that the closest way for you to even get a decent cap rate or cashflow in LA is either finding off-market MFR's or buying SFR'r and adding sq ft like @Nick Marrs mentioned.

@John Lai If the bank has already filed the necessary legal foreclosure paperwork on the homeowner(s), then finding the amount of equity the homeowner has in the home is as simple as pulling up the case file (via your local country court records website) and reading the original "PETITION" filed by the bank.  

Here in LA I pay 7% for my manager, but people think I am insane for paying so much. 

@Lee Ripma, pardon me for asking information that you didn't readily disclose but I've seen older posts from you where you've mentioned a good tenant negotiator in LA, is that someone you'd still recommend if I do end up moving forward?

That persistence is probably looks like a lot of door knocking as @Ray Lai mentioned, and patience of keeping at it as @Julie Haveman is.I just wanted to thank everyone for all the feedback!