What is much more likely is you are in a peak of the market cycle, which I believe is what is occurring in Los Angeles (likely peaked in early 2016). 

Ask a lawyer if you are allowed to speed on the highway, and they will tell you "no, you should always follow the posted speed limit."

But you can drive a car in an illegal fashion; speeding or running red lights for example. 

If you are part of REIN here in Nashville, Yogi Dougher's group Alternative Capital Solutions, and where i now office out of, came up with a fun way to bypass the bank and help speed up the lending process for commercial lending.  

Here are a couple of great resources to get up to speed and expand your tenant base:https://www.creditsesame.com/blog/credit-cards/can...https://www.corelogic.com/downloadable-docs/myth-b...https://www.american-apartment-owners-association....http://www.landlordstation.com/blog/credit-checks-without-a-ssn/

Peaking in the windows, the home looks like it hasn't been visited in a very long time, with trash strewn about the floors. 

. : In the Years 1997 to 2001, I worked as a Software Developer for around $100k, peaking around $200k per year with Bonus.The stock market crashed in 2001, so bonuses was cut and I was making on average around $140k or so.By 2004, I quit my job.During that time, my Partners and I bought 3 Brooklyn, NY Investments:1) 1997 - $340k 2 Family in Ditmas Park worth $1.7 Million today2) 1999 - $140k 2 Family in Windsor Terrace now worth $1 Million conservatively today3) 2004 - $890k 3 Family in Clinton Hill now worth $2.8 Million today.....MY RESPONSE:  YOU ABSOLUTELY HAVE AN EYE FOR IT!!!!!!!

You can pay extra to speed that up but I am fine the way it is.

Good read.https://thenevadaindependent.com/article/speeding-downhill-with-a-tailwind

And in my opinion, we are ending the peak of the market, so I don't believe the appreciation would be there in 12 months to make that REFI a reality.