Then, the market crashes and rents go down 80% due to some varying factors...none of which you really had control over.  

Currently there is tenant live in with rental control.  

Tenants have a habit of cranking up the heat and running up huge heating bills that you have no control over.

I invested just short of $4,000 into a digitally controlled water softener w/ 250LB capacity brine tank, and a top of the line Iron Filter to match.

I pay closing costs.10k down.Monthly Rent at current 100% occupancy is $5,710Vacancy 7%: $399.70CapEx 5%: $285.50Management 7%: $399.70Repairs 5%: $285.50Insurance: $316.00P&I: $2,093.60Property Taxes: $375.00Pest Control $150Dumpster $200Total Expenses $4,340.80NOI $1,200.00Debt Coverage Ratio: 1.74Income-Expense Ratio: 1.42%

Good - and now that you understand this, Tony, all that's left is to figure out how to control appreciation, and only buy those assets whereby you can do that :)P.S. being a psychic is not requisite...

I would download a copy of the Landlord tenant laws for the State your rentals  so you can be sure of what guidelines you as owner are responsible for.. the PM is under your control and basically, and everything they do, you are responsible for..4 units all at once ..

But maybe that's not possible and I just need to cash out now for whatever the market can bear.I'm also OK with hanging onto it for another year or so for rental income if I can find a good property manager to take over the day to day rental management but I'm worried about getting locked into a long term tenant with Berkeley rent control laws being so strict. 

#1: You maintain control over specific value-adding potential. #2: You ALWAYS have to pay full market value for shares. #3: You're MUCH more reliant on the whim of the economy with shares, vs. property.#4: People always need to live SOMEWHERE (even you).#5: It's much easier to BORROW to buy property, vs. shares (and STILL obtain positive cash flow).

Also if your area is rent controlled you may be limited to how much you can raise it.