What would one recommend investing in a Major downtown, metropolitan area, like downtown LA or SD for generating positive cash flow?

This is because the financing will often fall through due to poor up front qualification by the major national lenders.

Some owners can though, just want to clarify that before you spend to much time looking into putting something together.Also, make sure you factor into your numbers the ages of all of the major capex and where it is at in its lifespan.

Even then tho I can see it's still cutting it close to break even or loss for the year depending on major fixes. $33,000 minus $29,000 = is only $4000  and that's not considering garbage or water which I will pay until their lease is up.

While I do think they could eventually gentrify(EGP more so than North Lawndale), I don't think it'll happen anytime soon or very quickly unless something major occurs(IE Amazon coming to Chicago). 

It's a major dilemma.

The problem I am finding is that the majority is looking to fund me for 6 months for flips.

Then, I guess you just need to make it a contingency and a major one.

If you were to pursue the deal you should have the property inspected to determine the condition and life expectancy of all major components and appliances.  

Also, I guess one of my major concerns was getting rid of the land as it is probably not as liquid as a home property.