I still think that the appreciation question boils down to the "Do people with options want to live here?"

upside is you can open up your tenant pool to people who have resources for their own home but may be missing some of the traditional bank qualifications.

You've gotten a great response above from @Michael Plaks I'll also note that for this or any similar "strategy" people come across to just step back and ask the following: Does this have a genuine profit/business motive? 

I've seen plumbers and builders stop hiring because all the "young" people start the job and then don't put in any effort or stop showing up.Figure out what you want to make hourly, then start telling everyone and their brother that you need work, how many hours you are available, etc. 

Network with purpose: Surround yourself with people already crushing it in multifamily—mentors and partners will accelerate your growth.

I like to hear other people's opinions.

CA is brutal when it comes to taxes.I don't give tax or legal advice, but many people believe that holding the property in your name and having a good umbrella policy is a good solution.

Wondering what people's thoughts are.

Many people choose NOT to have this, because the administrator will then vet every investment you make to ensure you do not invalidate your IRA.Invalidating your IRA means that you've done a prohibited transaction and the entire account is then deemed as distributed to you.If you don't want checkbook control, then I recommend a plan administrator such as Equity Trust - www.trustetc.comIf you are sure that you're aware of all the rules around prohibited transactions and disqualified people (who you can and can't do business with), then a plan administrator like Sense Financial would be a good place to start talking.  

Ideally, you network with people who have owned properties for a long time.