From my perspective areas like LG and to an even great degree Orlando or Vegas are best to invest in for appreciation rather than cash flow and then exchange into a better rental market. In a recession or down market those areas tend to get hit hardest so the bouce back is greatest. Its best to invest in 3rd and 4th tier markets like Vegas near the bottom and trade into higher tiers when they recover.
Buying as an investor in LG or Orlando or Vegas was best between 09 and 011. The time to get out was in 18 and 19. By then prices had fully or nearly recovered and you could trade into a market with a higher quality tenant pool. A good example would be to buy in El Cajon or Lemon Grove at the bottom and enjoy the bigger appreciation for a few years. Then trade up into North Park or Mira Mesa. While its still an option the smart money did a year or two ago.