He recommends repairing and attaching the downsprout to a drain that leads away from house.

Some iconic "LA" areas like Beverly Hills, Malibu and Compton aren't technically Los Angeles at all (but Long Beach is --connected only by a two block wide stretch of land that is 5 miles long).A later post by the OP noted that the value of the lot was "at least" $100k.

It always helps to have someone like a local agent or PM who is very familiar with the area to tell you as things can often be block by block.

Purchase price: $285,000 Cash invested: $95,000 Multi family property in a booming city expecting major growth with mountains blocking expansion.

Darn, this is draining my cashflow! 

Or supply and drain?

I want to invest in a Sub200K area right now that will put me in about a B neighborhood with working class folks who care about their surroundings/block.

But one bad tenant, or one deferred maintenance item can turn that great cash flow into a big cash drain.  

(Just an FYI: most sophisticated CPA firms (i.e.not turbotax or H&R block) have audit risk software that basically calculates your chances of being audited based on the tax stances you take so another good reason to invest in a good CPA)

For example, somebody makes a big burn mark on the butcher-block countertop.