In short, it makes economic sense on your residence, in very specific and controlled conditions. 

Any condos built prior to 1978 are likely subject to Los Angeles Rent Control with the exception of how much you can increase rents.

Technically, they are your employer, but they vary greatly in the amount of control they exert over you.

In addition, I think there's more "control" with stocks in the sense that you can pull your money out whenever versus real estate, the money is not liquid. 

For example, if the building has a lot of rent stabilized/controlled units, don't expect to get favorable terms on it since the lender knows you're not going to have too much upside with rental future income. 

It should be about 1/3 to 1/2 the price of conventional hvac system and you could advertise central hvac with the bonus of having a zone system as each unit is individually controlled.

Pretty much everything else is out of their control. 

Santa Monica and California in general.Rent controls and additional tenant protection was always going to be a response.Right now i’m just finding multi families that net positive for me. when rates drop, i’ll worry about BRRRR again

I've found this immensely valuable as it gives you someone to bounce ideas off of while still making all of your own decisions and having control over your own investments.Phew, that was a lot.

Moreover, the ENTIRE CITY of Newark is rent controlled making it even more onerous than New York City.