Immediate properties in the area are 180-220k range with neighborhoods at 500+ within 3-5 miles.  

You are correct in that once you have identified a neighborhood and you see a rental listing come on you need to run there immediately with credit reports and money.

The neighborhood has improved since I purchased the house in 2004.

The prices in Los Angeles are so high right now that I can't buy here, so Im thinking about buying out of state, I'm still saving and searching, and yes, Id like to lower the interest we are paying on the loan.

I certainly don't think it's a neighborhood for everyone, but my second duplex is on probably the nicest street in the North Collinwood neighborhood, so I'm okay with it.

I have "broken the ceiling" in value of several neighborhoods.

But beware, if you use Their title co. they may not search for, and not cover, unrecorded liens.....code violation fines, utility debts, etc.

So buying without seeing the actual neighborhood would be a little bit concerning for me, but if you've got good people it shouldn't be an issue.This seems to be less of a concern when you get to the suburbs or whatever you want to call the areas outside of 465.

There are certain neighborhoods I would probably not venture to in region so it is good to be careful.

In this particular neighborhood homes are selling for well over $3Million, some homes as high as $7Million with around the same square footage.