OK, you already know the cashflow is not good

that's why most landlords will not like it.

As for appreciation: it is anybody's guess. It depends on how the overall economy goes in general and the local economy and population trend moves in particular.

I believe S CA (LA metro) has a bright future simply for its unique location and amenities and the population density.  It is less important if the neighborhood you buy into will appreciate more or less. It will track the overall LA metro price movement.

However, is LA the best metro for appreciation for the next 5-10 years? It may not be, but I believe it will be one of the hot spots.