Don't get me wrong, this is a successful appreciation play for sure but in terms of holding this long-term, there are better rates of return on your capital in other investments. 

I would label your project as gambling, not investing.  

@Bellman Tumasang very dangerous area, SEC laws now come into play, I would never touch it, why bother 

However, I believe Landlords have a big role to play in that because they don't educate themselves on what a good PM looks like.

A lot of wholesalers try to play games and make it seem like they have tons of interest to drive the price up near 80%.

@Mike JacovelliIt depends on what role these people play in your life.

I also am playing around with the idea of making a 3rd bedroom in one or all of them if possible as they have a lot of wasted space . 

If we're going to be internally consistent, IMO the playing field has got to be leveled.To do that, you have two choices.If you hard cap everything at 43% (and can no longer sell your home to that FHA buyer utterly maxing themselves out at 56.4% DTI), I can point to some dozens of millions, or hundreds of millions, of American voter homeowners ("homevoters") who will not like the impact this has on their home values, unfortunately.

And you'd benefit yourself by going to play golf, fishing or take a quick vacation trip - to make sure personalities mesh and build friendships among the members.

For now, moving from LA is not an option.I know in LA it is very hard to generate positive cash flow, and it's mostly an appreciation play.