We live in California and we don't want to have all the eggs in one basket.

Lastly, being a good landlord will always bear fruit so it's best to be on top of every issue that arises.

Personally I would not put all my eggs in one basket, especially if I "fell into this position"

I also plan to convert 4 of my nicer LTR's to MTR's and start to enjoy the fruits of my labor.

Charlotte is a tough market from a cash flow perspective because price points are so high, but some surrounding areas are proving fruitful.

One really does need to be careful about putting all their eggs into one basket.  

The leasing fees are the low hanging fruit that makes that business even worth pursuing.

Especially when there are tons of incentives for grabbing that "low hanging fruit," like there is in your particular situation.IMO your 'low hanging fruit' would be utilizing the new-ish Fannie Mae rule allowing only 3.5%-5% down for owner occupant financing (house hacking) on ALL small multi properties (anything under 4 units, so duplex, triplex or 4-plex).

To maintain your standard of living, you need an income that outpaces inflation because each trip to the store costs you more for the same basket of goods.

Real estate investing allows you to diversify your portfolio instead of having all of your eggs in one basket like with buying an investment property or stock market investments alone.Investing in real estate funds also gives you access to the real estate market without the hassle of being a property owner or manager.