I'd love to start networking with other Oakland based investors/RE agents.Any reasons not to buy a multi-family in Oakland these days with all of the rent control issues?

It depends on how far away you are from having the money for a down payment, you might try peer to peer lending like Lending Club or even something like Realty Shares where you have less control over the real estate but a lower barrier to entry.  

You have just as much detailed knowledge, and just as much control over events, in both situations.

The extra work to maintain control and hedge your risks is the key ... leverage with control has great returns, but leverage without control is very dangerous.

I am having a hard time not having complete control of going to see a property without having someone babysit me.

My loan officer suggested creating an LLC and buying houses under the company name and using me as the personal guarantor, thus allowing me to own/control four more.

@Chris IrvinChris, you never get in title with a lease option, you control the property.The best way to get on title is sub2 or a wrap or a land contract, now your exit strategy may be a lease w option or a lease w ROFRSee my BP blog "Make money without banks or credit."

@Brian Pulaski @J ScottThis would be my first flip that under our new LLC and that we have full control over.

That caught my attention and I really want to have the best control possible over my tenants!

Fortunately I took a step back, implemented a number of things that would conserve heat and water, and I am far better for it because the old costs were built into the rents.Now, I live in a house whose water is controlled by a utility and I receive monthly bills like electric and stays with the tenant.