You can have low cap rates anywhere, but what differentiates Los Angeles is the strong and well established economy, shortage of housing, diverse urban community, etc.

I have a degree in Urban planning and have worked for a number of municipalities in their planning dept.About 3 years ago I went full time RE.  

This was a classic urban infill project...

The wear and tear will show on the wall, shelfs, lighting, etc. especially in urban setting where we have lots of turn over.

Out of curiosity, I know asset values are lower out in Erie than some of the suburban/urban investors are used to on this site.

Getting a diploma seems to be the minimum in society. 

If you're at a higher level in society, you're probably barely dealing with cash.

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.""

I'm concerned that we're going to see a reversal of urbanization due to the pandemic.

If they have been back in society for seven years with no problems, it is likely that they are not overly problematic, but having a conviction 7 years ago could mean that they just got released from a 14 year prison sentence.