Since cap rates are the result of market actions AND a lower cap rate means possibly that the market is paying MORE for an equivalent income stream than say Surprise, AZ it could be very well that there is market anticipation IN LA that rents are on the way up or that prices will increase even more or BOTH.

Feel free to shoot me a PM any time (as a potential partner, client, customer - or local insight into my area, Harford County MD) - likewise, don't be surprised to hear from me (particularly those in the Baltimore area).

As Jason says, you can either get a Google Voice which is very convenient or you can just hire a "virtual" assistance like Pat Live, Your Voice Link or any other, just to mention a few.

Type "finding motivated sellers" in the search box above, and you might be surprised at what you find...Here's one worthwhile post (of many):http://www.biggerpockets.com/forums/93/topics/76751-finding-motivated-sellers-my-list

I thought his answer would be along the lines of I found the deal, so he surprised me with that answer.

That sure would be a nasty little surprise.

Would the new house be as/more/less convenient to work, shopping, medical, and other services?

It will be less inconvenient for them and they said you could have access to the unit then.We always try to schedule upgrades when it is most convenient for the tenant.

I was surprised to find that they are eager to give me a loan so now my interest is peaked.

I'm kind of surprised, but it sounds like the eviction process in NJ is streamlined.