@Thomas WillinghamI would stat renovating vacant units and then simply non-renew trouble tenants and offer good tenants upgraded units if they are interested. 

But if you want that money that you spent to fix it back, or if you can take that money and "leverage" it into another investment, then it would certainly be worth examining.

I have tried the free version of Rentometer and looked at the 'stats' section of these RE sites, but doubt the accuracy of this info.

The CA DRE requirements to get a license:Age: You must be 18 years of age or older to be issued a license.Residence: If you are not a California resident, see Out-of-State Applicants (Each applicant must qualify for the appropriate written examination in California and meet all other requirements.

I am currently examining multiple properties as a newbie and first time investor. 

I took my exam in Albany on July 16th.

You won't know until someone will examine it for you so just do that.  

Those stats aren't too different from my own, so I would probably do what I'm doing now: BRRRR.Buy off-market deals with hard-money or private money. 

What's most interesting to me, if you look at the chart below, is that even as inventory climbed this Spring and into Summer, the Average Days on Market dropped.Those numbers are for single-family homes, and you're looking at multifamilies, but I could probably show similar stats for multis in NH.Given that it's a supply-demand squeeze and not some distortion in the market (like easy credit), I only see two reasons the market will really shift: a decrease in demand, and an increase in supply.The shortest route to decreased demand would be a rise in interest rates. 

I just passed the Broker Exam in Illinois.