However keep in mind that politically the climate there is deeply conservative, if that matters to you.

If the Governor wants to help, he needs to create a climate of jobs, and unity back into the communities. all he mentions about capital gains and tax incentives don't do a thing for the locals. 

The property is located in a warm-weather climate, so I feel comfortable using 10-15% for capex and repairs.

Much of the housing issues in LA tie back to the Nimbyism and the current regulatory climate towards housing in our city.Thankfully, council members are catching on, albeit slowly.

Also a big part of the cost of the property is a large 11,000 sq ft building that could be converted into climate controlled, but of course the conversion is an additional cost. 

There is no insulation in the homes and it's cold inside for at least 4 months- yes a warmer climate is a must.

@Jason James Tesla is opening the largest battery factory in the world (called the GigaFactory) just outside of Reno in 2 years and the general business climate is improving.  

We could all bounce our opinions are various facts about each city here (I have plenty of them, believe me), but a successful real estate investor can make money in (most) economic climates.

I think a better question may be:How are the schools going to fare in this climate?

One of the benefits of a truly temperate climate.