"Do not conform to the patterns of this world but be transformed by he renewing of your mind."

Wow @Slav Tkachenko  the transformation looks great! 

It is merely a shadow of the Hispanic community it used to be 20 years ago; with a massive transformation occurring in the last 10 yrs.

I believe in the future of Los Angeles and think that if you buy in a decent neighborhood (looking in parts of Hollywood, Echo Park, Mt Washington, USC adjacent, and other transforming areas of LA), get a tenant to pay the mortgage, then repeat as often as your capital allows, you will look up in 20 or 30 years and have both substantial income and massive asset base.   

I found it interesting that in many flips that went through transformation and rehab of the seller that many potential buyers walked. 

However, there is an electrical pole with a transformer (see pic) in the back yard and it's eye sore. 

Also, I love to see a house transformed into a desirable home.I do want to do buy and hold, but I don't want to tie what little cash I have up with a long term investment.I don't have a lot of cash to make a purchase and rehab a property, but I would think my credit could help me get the financing, but I'm not sure.

I've had good luck with rustoleum cabinet transformations.

That area has been transformed a little.

This property would be gorgeous with some love and renovation, corner lot, could transform the neighborhood.