@Gilbert Lugo, the old saying that patience is a virtue is truly tested while being a new investor in the REI world. 

As downtown LA continues to build expensive luxury apartments it will push out those how cant afford it into the surrounding areas such as Boyle Heights, South Central LA, and Inglewood.

But the time crunch come by virtue of the 1031 requirement to IDENTIFY the new property(s) within 45 Days, and then you have 180 Days to Close.

There are lots of solid non-luxury towns like Plymouth (though we have luxury oceanfront properties and more in Pine Hills too), Pembroke, Kingston, Halifax, Hanson, Carver, Plympton, etc.For some real low cost opportunities, take a look at Brockton, Taunton, Fall River and New Bedford. 

I bought a luxury home for my family to live in a few years ago.

Things like real estate do not have this luxury.

Based on my own rehabs I would focus on Painting, Drywall hanging and repair, Vanity installation, laminate/luxury vinyl tile installation, ceiling fan and light installation, baseboard and door trim installation, window installation.

Laminate, Luxury Vinyl Plank, Engineered Wood, Tile, etc...

I see you live in California though, so you will want to talk with an attorney to see if you are subject to tax in California or CA laws by virtue of being a CA resident. 

They’re also the biggest buyers of illegal elephant tusks and luxury items.Yeah, we’re all likely dead by then unless we switch our global economy from a oil based economy to a renewable energy economy.