The City of LA and the County of LA for that matter are both HUGE. There is plenty of opportunity IF you have the working capital (or have access to a large amount of money) you can be VERY successful.
You said you are a single family home developer (so was I, but I am now semi-retired) I'll be happy to consult with you.
Have you chosen where you would like to locate in the greater LA area? If not, possibly I may be able to advise you in that matter as well. LA is so spread out, you need to decide where (and what) you want to develop first, then locate yourself not far from there to save driving time. The freeways are getting very congested.
I own the Beverly Hills Real Estate Company and am a native Californian, having grown up in Southern California, you could benefit by consulting with me. Feel free to call for a consultation appointment.
Ron Henry (310) 550-5550