Are you local and can you oversee renos? 

I would think that a property manager would be able to assess your specific unit, be able to determine what market rate is for the local area and the quality of the unit, what the market rate rate is for your specific unit, to suggest what your unit could rent for based on some improvements and have a sense of what rent increase would be tolerable by the tenants. 

Getting out to the local meetups, in my opinion, is one of the most important things we all can do as investors. 

In addition to making connections here you should try to attend some local in person meetups.

I'm pretty neutral on the local market outlook for the next year. 

I wouldn’t purchase a STR property anywhere it wouldn’t work as a MTR or LTR unless its local economy is based on STR.

Make sure to consult a financial advisor if necessary and also consider reaching out to your local credit unions.

You’re absolutely right—LA is a tough but opportunity-rich market, and I’m putting in the groundwork to make the most of it.While I’m starting local in LA, my focus is expanding across California, Nevada, Arizona, Oregon, and Washington.

Speak with a local Realtor who knows the market, but also is knowledgeable about creative financing options.Good Investing...

It may be best to partner with someone that has done one before or somehow is a local expert on lot splits.If you can add a bathroom into existing space on high cost property it can add a lot of value.