There's barely any new inventory or construction in Silicon Valley.

I too left home (trailer park) when I was 17 having barely graduated high school, joined the Marines (starting base pay back in '01 was <$12k/yr) and self funded (including via military/"employment" perks) my way through everything.

To put things in a bit of perspective, nearly all of this rapid gentrification (and it has been rapid in the past 5 years-- you'd barely recognize it from 2010) was triggered by the completion of the Marriott (Pier South) which is a beautiful hotel.  

I would think the cost of the events and membership is bare minimum a 10x return if not greater.

I barely covers anything! 

Most really good SFR Inly last a day In MLS and most flIps, rentals, and small multis are priced so hIgh they barely make sense... again, I know thats how most the country Is, and as with anywhere there are still some deals to be had.

Me , I would bring my tractor with a loader , wrap a chain around the pole and pull them out faster than you could cut them .DO NOT let them cut them at ground level , the cut makes very sharp edges , someone in bare feet would get cut bad . 

I wouldn't buy for appreciation at this moment in time because who knows when the next correction will come...many think it will be sooner rather than later.....if you are able to buy for cashflow right now in Philly that can definitely be your hedge against the coming correction.Full disclosure...I am NOT an expert....I have 2 units in the SF Bay Area that I have for cashflow and am hoping for appreciation...but if they don't appreciate I still have positive cashflow on one unit and I'm barely below cashflow on the other......In Cleveland I have 6 units and all are strictly for cashflow and they are all between the 2% to 3% rule.

Then the unit typically needs a rehab because rent controlled units typically have bare minimum in terms of tenant enhancements. 

At a bare minimum stay put until you hit the 2 year mark for the tax savings.Hope this is helpful.