The best investments are the low-priced properties, which are low-priced because there is litigation, pending or active, in most cases between the homeowners' association and the developer. This scares some buyers away, shrinking the pool of prospective buyers. The smart investors know the lawsuits will eventually be settled, and they will come up smelling like a rich rose in the end, when the market cycles back to the upturn. The "problem" properties at this time, coincidentally all well-located, are Barry Lofts, 5th & Broadway, Bartlett Building, 7th & Spring, Little Tokyo Lofts, 4th & San Pedro, and possible The Savoy, 1st & Alameda. These are all fine buildings, with different features and personalities. All are well worth having a look at. They are in different Downtown neighborhoods, all convenient to public transit, and there are at least a dozen condos currently for sale in each of these buildings, some short sale or REO, some resale, so the selection is terrific for the investor buyer. Or for the buyer looking for a great place to live. Make it your crash pad or lease out and hold for appreciation (increase in value), which WILL happen...eventually!