On the other hand, mortgage rates will likely go up, so waiting for the next crash may not be the right approach either.

Flipping is rampant and San Diego is approximately 5-10% off the peak at our last housing crash.  

If you and your partners are interested in the 5+ unit side of multifamily / apartment investing, I would highly recommend the following 4 books:1) ABCs of Real Estate Investing by Ken McElroy2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro3) Multi-Family Millions by David Lindhal4) The Complete Guide to Buying and Selling Apartment Buildings by Steve BergesThis will give you a "crash course" in apartment investing.

We work with a lot of duplex buyers in Milwaukee and we have a mini-crash course for our clients to provide the few bits of information you need to get optimal results.

While many believe it's unnecessary because it's a conveyance between family members, it's always possible there's something in the record that might be an unanticipated and unpleasant surprise.

ELOC's were super common back before the 08 crash as people took out equity.  

You need a crash course since you now have so much cash invested.

Therefore there is market niche of other prospective tenants out there looking for what essential is a part time crash pad near their employment.

There is a crash RE course in MA, and CT and MA are reciprocal license states.  

It was written in 2001 and it predicted the crash in 2007-2008 and a bigger one yet to come.