Similarly, if you're the riverboat gambling type, you can try looking into an equity deal where the buyer pays you X% of final sales price and/or a percentage of rental income if buy & hold.

If you have time consider spending 30 minutes for 30 consecutive days on Bigger Pockets.

You would likely spend more in lawyer fees than you would be able to recover.

It's usually good practice to be overly conservative and to retain excess capital for repairs etc, so I wouldn't go out and spend all of your cash at once.

House hacking would free up what I currently spend on rent and what doesn't go to repairs, would go toward another investment opportunity.

I spend a large portion of my time doing high-level new development analysis.  

We're just hoping to fix this without spending too much time and $$.

But I would also want at least a 10% down payment, since if they stop paying and you have to foreclose, you could easily spend more than that in lost rent and legal fees, plus any damages to the house.

I'm Krista Patrick and I've actually been a member of BiggerPockets for about six months now but I've been spending my time reading (books, forums, the Ultimate Beginners Guide, getting started, etc), listening to podcasts, absorbing as much knowledge as I can, and saving but I think it's finally time to stop being scared and start introducing myself.

Are you content to spend nearly a year attempting to locate your next property in the LA market or do you have a plan to accelerate that process?