Open floor plans generally feel larger too. 

He is in my area but the more I looked the more skeptical I became.A bunch of his videos are just him working out with words about investing written across them.His business name is very unprofessional. 

Beautiful city, near the coast and mountains, a ton of businesses moving into the area, large demand for property, etc etc.

The plan is to come in and improve the NOI over the next 12-24 months then implement a strategic cash out refinance and move to long term permanent agency debt.

I have been in the mortgage business since 2003 and these same words and phrases that are stated above will always cause some folks to think now it not a good time to buy.

I am planning to get my first investment house; I don't want to use my savings, so I have an equity line of credit for 50K and got pre-approved for a loan up to 300 k? 

I'm invested in a property near the Grove that's executing that business plan now.At a simpler level, that might mean buying a house with a garage, converting the garage into an ADU, and renting out the ADU.I think a super solid first step to get into the LA market is to househack a home or a multifamily.

2) If secondary, do you have a contingency plan to fund this asset's negative carry?

I'd seen and been part of several conversations regarding single-color-paint-schemes, and I liked the look and idea of doing it, but after talking with my brother-in-law who owns a successful painting business, and my father, who owned a successful painting business, I decided to abandon the single color scheme.The primary reason behind our choice was what you mentioned.

If contingent on actual floor plan, send a PM.