Gentrification:  the buying and renovation of houses and stores in deteriorated urban neighborhoods by upper- or middle-income families or individuals, thus improving property values but often displacing low-income families and small businesses.A large percentage of the city of New Orleans LA is currently undergoing the above process.

LA is too expensive for me generally, but I'm trying to learn more about surrounding areas. 

There are jurisdictions (parish to parish here) that have very different attitudes toward landlord vs tenant situations.There are reasons why LA is where it is on this list:http://www.instituteforlegalreform.com/statesYour tenants are immersed in advertising (billboard, TV, radio, etc.) to  pursue legal action in the event of any accident, injury or incident and with "hungry" attorneys everywhere you turn, you will have to defend yourself sooner or later.It sounds like your father-in-law is great for the role you want him to play.  

My biggest advice for LA is to make sure you always dress in layers!

Hey Hashmat, I'm a real estate agent with high end luxury real estate firm, Sotheby's in LA. I

If your LA is not giving you any advice or suggestions as to what is going on then that is a major problem.  

I heard from a new builder salesperson in Santa Clarita that there are lot of new homes that are in the pipeline to be built in the Antelope Valley over the next few years, which makes sense since LA is the hottest job market in the US. 

Hello BP Community,I recently relocated from Philadelphia to Los Angeles and,  needless to  say, I was shocked with the prices of property in and around LA. I

Maybe LA is saturated, but smaller towns and cities on the periphery of LA could be ripe for the picking.

Norman Lai