Prequalify them [ really not just ask them do they want to buy a house but full 1003].Then take the ready buyers list and market to all sellers that fit that criteria - via online, email, direct mail, FaceBook, door knock etc.

I live in Los Angeles too and found it too expensive to invest in. I

For the area I am in, I spoke with my realtor and are confident that the studio would rent for $900-$1100, and if I were to rent the actual house (in a year or so) comparable show it'd rent for $1800-$2000. 

Nothing you read or google online can teach you. 

@Manasa Srinath Agree with the comments on timing and # of rentals coming online. 

I've read all the books, listened to most of the BP podcasts, and have spent considerable time doing research online.2 years ago I purchased my primary residence where I live in California and now I'm trying to purchase my first rental.

This is probably the best way to get online exposure. 

Simple things like a professional website, ability to take payments online, a real tenant application/screening process, maintenance tracking, after hours call system, financial reporting, etc. 

Do some research before you jump  in. I

Online contracts?