If the economy turns for the worst people still need a place to live, hence the increase in rental need.

Mario Furmanczyk,seriously if you are determined to play with LA's rent control laws and renting in California in general,you need to find a very good real estate attorney who is an expert in rent control laws and California rental laws in general.California is one of the most difficult places to do business and landlords are treated like criminals waiting to be caught by our court system.You need serious protection with good lawyers who will help you stay in compliance and keep you out of financial troubles.Good luck to you.

@Guy Gimenez, any suggestions on how a newbie can increase deal flow? 

As I learned on BP, I don't want to buy a property hoping that the value will increase drastically because the neighborhood will get better over time.

I'm have a job that's higher paying than the one I will be going to, and my current DTI is low given I have a high-paying job, but my DTI will increase since my new job is lower paying.

I currently only have Class A properties with zero tenant or property issues however I’m thinking about going with this property class to increase my overall portfolio cash flow.

(difficult to gauge sometimes) are poised for appreciation.http://www.city-data.com/ is a great website to get a better feel for the breakdown of these neighborhoods.

Vegas could be a difficult place to start, but it could also be very profitable if you buy right.

Property info: #1 main residence, current value $1m, outstanding mortgage $400k#2 current value $600kSo, ideally I'd like to have one mortgage for $1m, to cover both properties - as that would mean only one mortgage, only one enquiry = increased probability for approval. 

Now, this is where you can really maximize your results - creative mailers, that actually stand out from your competition's mailers have provided me with a 26.7% increased response rate from using a standard yellow mailer type.Finally, the deals are in the consistency and follow up.