But to be honest the driveways aren't bad as it looks, when you actually do it.

Actually, especially with family and friends.

So, the even if the rent does not cover the debt service you can still potentially qualify. 

So yes, more expensive homes with lower rates can be different than cheaper homes in higher areas but then actual principal, interest, and insurance will likely do the off-setting. 

To answer the actual question....If I had unlimited funds and lived in LA what I would do1-Move as far away from LA as I could2-Invest in US treasuries. 

I've used the insurance broker for over 30 years; knowledgable staff, excellent service, and great pricing.

I contacted a few people who actually invested previously.

How do you know they've actually been living there? 

what  happens if one partner wants to exit the property in the future and the other person doesnt )    2)  consider  buying and  financing it as a rental property  or using a DSCR  ( debt service coverage) type loan   3)  consider  additonal co borrowers  that are  strong  ( relatives )   4) obtain a new job that has a salary  that can be used  5)  wait to buy unitl you have the  seasoning for the variable income 

I own BlueRibbonHomes, a full-service brokerage that includes property management.