In most RE markets rents did not decline (there are definitely exceptions such as Detroit, Las Vegas, etc., but most markets rents did not fall significantly).  

And I’ll let you in on my experience of 40 plus years in real estate, and having personally met many of he older time gurus; take away the slick presentation (prepared by a marketing firm in either Las Vegas, Nevada, or in Provo, Utah), the “glamour” shot appearance makeover, the unsubstantiated resume and personal history, and the buzz words and motivational bs, and what you’re left with is most times a salesman/marketer and NOT someone who has had much if any success investing in real property.   

The Casino was packed but not many people shopping around the town or at the beach.

Let’s see:Booming: Provo, Austin, San Antonio, Charlotte, Nashville, Orlando, Dallas/Fort Worth, Denver, Greenville, Raleigh, Tampa, Phoenix, Seattle, Houston, Atlanta Strong Growth: Indianapolis, Las Vegas, Riverside, Detroit (!!)

If you're in LA and want something you can drive to check out Las Vegas.

I know some Bay Area investors buying in Vegas. 

I have a single family house in N Las Vegas which is on the market but not getting any viable offers.

I live in Las Vegas which is a mecca for tourism, but new STRs here are very difficult to secure.

Cash flow would be nice but I’m more about gaining equity.I thought Vegas might be a good bet.

I own 4 acres right next to the Graton Casino  that could be my next project put in about 100 apartments and call it a day.. won't have great returns 5 to 6% but I will get them and not have all the stress and drama like what your going through...