The OP has assumed "perfectly good outlets", which may be the case, but more than likely there will be some hidden issues that will pay to resolve.There's wise economy, but be careful about polishing turds.  

I'm not sure if I want to, or if it's wise for someone like me to, invest in this area.

Thanks @James Wise I look forward to the interaction.Scott

Thanks @James Wise.

I have the knowledge and he has the money, seemed like a great relationship but is it always wise?

@James Wise & @Colin SmithI have purchased a full outdoor movie setup for these events. 16'x9' screen, full PA system, 1080p projector and a bluray player.

I only know of one case and it was someone I had done business with in the past that was able to redeem in our largest county population wise Multnomah...

I’m looking at a few houses that are good values but I’m at least a couple years away savings-wise from being able to afford a down payment ($30-40k range) on them as an investment property.

You'll be able to rent more cheaply than your mortgage payment here in LA and you'll be cash flowing on your rental(s).Now, if you would buy a rental in our area and pray that appreciation makes you whole, then buy the best place you can afford on the west side (location wise) because Santa Monica will appreciate more quickly than Mar Vista will. 

^^Thanks to the BP Community as always, including former virtual speakers:@Joshua Dorkin , @Brandon Turner , @Ali Boone , @Engelo Rumora, @matt fairclothThanks to all our meetup members who are also BP members:@Sandra Roddy, @Dustin Karns, @Paul Wurster, @Jacob Michaels, @Katie Kim, @William Strong, @Natalie Heo, @Dominic Jones, @James Wise,@John Kantola, @Robert E.