There is expected to be low voter turn out for the August election, so only a few votes could make the difference.

I found a agent (who wasn't investor friendly), they gave me a lender (who was terrible), who gave me a title company (who messed up the closing continuously), and finally the insurance person (who gave me too low of coverage).

I met another STR the other day who has what would be considered a low-end home around downtown, yet he is perpetually booked just based on the demand to be close.

If I do successfully buy in LA, it will likely be a long-term buy-and-hold as I'm very bullish on the 10-15 year horizon.Unsure how hard it is to get approved for these low down payments.

Credit score is in the low 700sI'm looking for a new primary and would like to use this as a rental. 

Should I just put in the low offer and let it sit until they decide they’re not going to get more and just hope there’s not some other crazy buyers willing to go too high?

Longer answer below :)I'm glad you have vacancy in there, although 3% may be a tad too low depending on your market. 

We have no way of knowing if $1m is high or low without more details. 

Brandon Turner has a good book on investing with no and low money down, but personally I think it's ideal to have a solid personal savings buffer even if you are creatively financing with other people's money. 

The pros for this are that it allows me to keep the current low interest mortgages and puts new cash flow into new acquisitions to grow the portfolio.