Good luck Not long ago you would do a true brrrr get all your money out and have a property with strong cashflow (low rates) for “free”. 

Your true return has to be risk adjusted.  

I learned this phrase about 50 years ago in my first year as an agent and its true today."

Switching the utilities into their name without safeguards in place—knowing the tenant might act out—seems like a misstep on their part.While it’s true you’ll ultimately have to cover the cost, it doesn’t feel entirely fair for you to shoulder the consequence of their decision.

I oit's too much drama to do a wrap, it's not mutually beneficial to all parties and not a true deal (from my perspective anyway).  

Or a PM bizz  etc etc all of these are RE based but you dont need to own any RE per se . when you have investors that are not in the bizz IE not brokers lenders GC's etc etc they to me are true investors and depending on their background and funding ability scaling can be a pipe dream or one can methodically do it in what ever rental props they want to buy..

This is especially true in appreciation markets.  

Nathan I think this is true if your just talking about rental props for landlording.. the last 2 to 3 years have been the best years of my career.. building new builds and Loaning our funds.

I keep saying it's making me a better investor and that's probably true.

Assuming this scenario is true, I cannot see a scenario where coastal RE near Los Angeles does not have over sized appreciation.   2nd homes is not going to make a significant dent in this increased demand. best wishes