. $14/sf nnn on 23k sf warehouse plus the added lay down yard = $362,000 NOI annually Cost of the yard will only be around 100k.

Also with stucco siding tile roofs No major weather issues desert landcaping etc etc.. maintenance is quite easy and very cheap compared to other areas of the country.

He does a good job laying out the pros/cons and issues he's had with the city. 

There are many options, so instead of me listing a million things, it would be more helpful if you could lay out a few options you're considering, and I can provide some feedback from there.

There are so many ins and outs when buying distressed homes it's definitely something you'll want to be able to lay your hands on, at the beginning at least.Buying turnkeys is a great option as well, there are some larger companies who offer lower interest rate options while operating in more affordable states that are landlord friendly.

PS the foundation issues are caused by Yazoo clay.. in the newer homes the builder dig out a few feet and then rock up before foundation.. the old homes are just  laying on the existing soil ..

Inside these chimneys might be clay liner tiles.

It’s older (usually 20-40 years), often don’t have tile roofs or stucco siding and if you ever want to sell, you’re selling to investors as very few are house hacks. 

Kitchen FinishesThe kitchen will have white cabinets and white subway tile.

You are in Los Angeles, whoever told you to lay low is giving you bad advice.