Some folks have money in IRAs and other accounts on which they want a better, safer, less volatile return.

I see this as taking a position similar to Warren Buffett, who touts long term wealth over short term, high volatility growth.To that point, I would like to hear from anyone who has, or is currently, building a property management business from scratch.  

Those who managed to buy time, inherited the spoils of volatile.

Just keep in mind that condos are very volatile pieces of property. 

Variables may impact cycle making them more stretched (peaks lower, bottoms higher) or narrowed (more volatile/peaks higher, bottom lower).

I think in the interim it's a good idea to own income producing assets which would help add stable income and or a complete replacement of W2 income if job market grows increasing more volatile. 

it is unique because it isn't nearly as volatile as other markets. it is a slow and steady increase and doesn't get hit hard like 90% of the markets out there.

... with less risk and less volatility? 

As in site you are very well aware from your suspicion, I am going to error on the side of caution knowing how CA is one of the most volatile markets.

Regardless of your political beliefs, to think that a presidential election in less than 50 days might not have some volatility in the overall markets is head-in-the-sand kind of thinking.