With $500k+ in cash, you have plenty, plenty of options in Los Angeles county. 

@Erik R Aho, Similar situation here, living in Los Angeles with outrageous prices.

I have several STR rentals in California (I co-own STRental Pros in Orange County, Los Angeles County, and Riverside County). 

Some were Los Angeles transplants looking for cheap(er) rent and some were just blue collar Craigslist randoms. 

The new ADU laws were created to try and get SOME housing built in a state that has fought against new homes tooth and nail for 40 years.As a result, 20% of all new homes in Los Angeles last year were ADUs.If that isn't optimal... call up your electeds and tell them you want to see more apartments with less parking in urban neighborhoods.

Are there any meetups you'd recommend / direct within Los Angeles area?

Hello EveryoneI currently reside in Los Angeles but I am buying my second investment property in the Houston, TX area. 

(I don't know why I can't tag either of you... grr)  Until last week I lived in Los Angeles, and it was no trouble at all to run them from there while working my 16 hour/day day job.  

Over-inflating closing costs is good and should be a common practice for LOs who don't know what most of the fees are upfront because its very true that things such as title, taxes, prepaids, etc. are all unknowns.

A floor rehab in Los Angeles will be different than a floor rehab in Cleveland.