Thanks for the quick responses.

I've seen some older threads but I know things are changing quickly in Los Angeles.  

Absolutely, BPOs are common and usually the preferred method to get value quickly, but of course there is still cost associated.

I believe you have to wait for the seasoning period to be complete and/or move / have extenuating circumstances.

Thanks Frank for the quick and enlightening reply.

Would you happen to have any resources that quickly come to mind on how one can maximize the cashflow potential of a rental property?

I haven't had a guest complain yet, and I also send my coordinator there periodically to check up on them.

Over the 10 year period rents are likely to increase dramatically.

If it need $25-30,000 worth of work your profit is dropping quick.

Thus, you will own two cash flow positive producing properties.One sells through a 1031 exchange because 1) they have owned a property for a long period of time and it may not have many years left to receive the benefits of depreciation expense, 2) they want to sell their existing property for an even larger property Both methods are great for scaling.