If there isn't a lot of inventory than Why don't investors, especially in the Los Angeles area run towards developments?

If you can develop a site that has that demand, it will do well. 

Between them, you should be able to develop a clear understanding of how to buy income properties.

I have to screen for my first tenants and I need to develop a process,

Obviously they aren't in the lap of luxury but they are not in areas Id be afraid of after dark. 85710 and 85730 are pretty solid areas with older homes and no HOAs to deal with, unless you look in a development.  

So while rentals produce returns every month, the developer/owner is still accruing interest every month.

I'm very interested in developing sales and people skills, so the job appeals to me alot.

I keep in mind which areas have shown recent years of good appreciation and consider places where new development might start to build up in the coming years.

Development just kept heading further out of town.  

A new development there would do well.John