It has lost about 10% of its population in the last 15 years. 

There is so much growth here - population growth, job growth, and companies moving and developing here.

Chicago need another million people in population to force us to push south.   

CA, in total continues to lose 100k's of population and continues to add onerous legislation, including the state rent cap they passed a few years ago (doesn't apply to sfr's though).I am not sure why anyone would want to jump in the deep shark infested waters right before feeding time, unless you have a clear proven strategy, or a very long time horizon.

Additionally, the Villages are close by and with an aging population it attracts a lot of healthcare field workers.Now, with a lot of rental properties you may run into slightly longer vacancy periods if you have a unit turn at the same time as others, but generally speaking renter demand is solid. 

Great macroeconomics overall - population and job growth and major companies moving here.

There is a large population of low income persons who are poorly integrated and somewhat centralized.

The market has been growing in terms of population, jobs and, major companies moving here like Intel, Google, Meta, etc. 

The big pros are the strong job market (lots of major employers), good population growth, and still-reasonable entry prices.

But you do have the room sharing.. in Cupertino were you have a huge Asian population I know folks that will put two computer kids in each room for 4 bed house 8 techies and each paying 1k to 1500 a month.. can just about make it work since the houses are 2 mil.