This concept aims at addressing the challenges of what to do with defunct suburban malls and maybe even empty big-box retail store spaces that are in desirable and affordable neighborhoods.

Can you afford to pay someone $40k per year to manage part of the business?

I recently purchased a four-unit near USC/Exposition Park which is an area that is still relatively affordable but has been changing a lot. 

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

You are correct… if a person has 600k and they can afford to risk it going alone in a new country and that’s what they want to do with the money then why not go it alone.

What does it tell you when a city can't afford to put a few structures with colorful lights for the holidays?    

If ADU garage conversion is permitted I would say heck yes - especially if you can afford it and you don't use that space.

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.I have also shifted my focus to buying better.

With rates high, I don't see much changing in the market as buyers struggle to afford a mortgage. 

Do that enough times and you'll eventually find a deal you can afford.