If a property isn't worth selling, it's not worth buying, whether it's due to the price or external factors. 

Yes, stained concrete in lieu of flooring can look beautiful and can be done with amazing patterns, but have you ever tried to remove a wine stain (that the tenant failed to clean up) from stained concrete?  

Thanks Jay,it truly is a beautiful place.

What one investor will say can't be done, another will do on a regular basis.And just like other factors, property taxes vary in LA from one municipality to the next.CSM (RET) Robert Leonard

A big factor will be the time.

Homeowner's insurance simply covers the loss of the physical property.The only thing that even remotely comes to mind would be mortgage insurance, but I have never seen mortgage insurance factor into a HELOC?

The cost of other (non-new construction) houses in the neighborhood have no relationship to the cost you'll incur to build a new house.Your costs will be based on a lot of factors:- Location- Level/type of finishes- Style of house- Size of house- Whether you GC it yourself or hire a builder- The types of contractors you use- Your negotiating ability- How strategic you are with your designs to keep costs downI've built houses for $60/sf, and I've built similar houses in other locations with different contractors for $90/sf. 

At first I was all for spending all my earnings on stocks but my focus is on cash flow & passive income and every kind of stock strategy I looked at just didn't seem worth it to me since inflation and other factors just make buying stock less appealing.

Your experience in real estate investing will be another factor as well as the financials of the property you are purchasing.

Have you calculated all factors, such as property management, repairs, renovation and similar things?