Among the factors you could consider if you're looking for appreciation:* Markets with strong net population growth (here are some Census data graphs of population by MSA)* Markets where incomes are increasing (personal income data by MSA)* Markets where there's limited new housing supply being created (you could compare monthly building permits by MSA to total households by MSA)Here's a full guide on how to analyze a market.

A household with more than $1MM in net worth excluding their personal residenceThere are some other options and more details, but if you can check either of the items above, you are safe to call yourself an accredited investor.The more complicated designation is the Sophisticated Investor.

@Max Householder, I appreciate the shout out!

According to this website the average household bill for water in CA is $65 which would be $260 for a fourplex.https://worldpopulationreview....

We focus on commercial multi-family properties that have a target rent of 30% of the median household income or less.

I look at $/sq ft of the property at purchase, and for rent, then median household income of the census tract.Every property is good deal if there is a market to rent to.

They are, however, not accustomed to running a household and are likely to be very gleeful about being on their own, unsupervised, and far from parental eyes.   

They asked you before they moved in and they are adding 2 more people to a household of 5 already. 

Does anyone know of a proficient CRM that would be able to perform automated campaigns for all residences of the household?

If you take out that capital and it makes less than the $500 per property then you are net negative overall to your household budget (which is how I look at things).Would selling the properties to unlock 100% of the equity make sense and then you could 1031 into something larger with more cash flow?