The primary area that I’ve been looking for deals is North of 22nd St but South of Broadway and between Craycroft and N Campbell.

Thanks you @Shadonna N. yes, I have my own pre screen question.

Would it make sense to use the second, if I was able to secure it, as a hard money loan to do more fix n' flips and set a aside reserves to cover the debt service on the second.

But the house is in N.

Here are a list of advantages (not in my order of importance) 1) FHA (lower down = reduced entry cost). 2) self managed (saves ~12% annually in PM fees and provides the best opportunity to learn). 3) Expertise in the market (you live in LA and know the areas of LA). 4) Does not require the trust of a team that OOS investing requires. 5) Historical appreciation (both rent and market: There are few locations in the country that has historically produced the ROI for buy n hold of LA. 

@Ann N. - I second @Blair Poelman but if you're talking about a typical wholesale transaction be transparent to the backup buyer that they are the backup buyer.

I am working with an experienced fix n flipper who has over 50 flip deals. 

My n=36 units really isn't "statistically valid".  

I chose the third property: 2743 N 10th Street.

When I type the address in Apple maps, a Santa Monica address appears- or n Santa Monica the middle of Santa Monica blvd( grassy area)in Beverly Hills.