As Jay Hinrichs says I'm going next month to get my real estate agent license, I think that if you want to play the game you need to know the rules.

Rationally play the numbers out ahead of time...determine what potential costs will be using the various options presented.  

For a person who is looking to do a "value add" play, the decontrol process might be the right way to go.Tenants rights are like anything else... they are scary if you don't fully understand the rules. 

I want to generate passive income through rental properties and play the long game.

I don't make the rules I just play the game!

Now many in the Bay Area as Minh has mentioned are very cashed up with their jobs and stock options etc.. so they can play the big boy game out of the shoot.. but they still won't get the deals if they do not network in person and create and environment to allow that to happen...

We love nicer props with a little equity where we can get stable 100% LTV mid- long- term financing in a market that's not declining.We take them and play the serial lease/option game--maximizing sale price and minimizing closing costs and PM.  

If they just played the game in some alley with others and were never exposed to the rules, what they learned is pretty much how they play the game.

I will never understand why commercial brokers play the game this way, but that is how you have to do it.   

When you play the appreciation game, it's like playing hot potato.