However, if you are offering a bike-rental business, expect to be changing flat tires and adjusting brakes on a daily basis.I also like the idea of using a local vendor.

(I suggest you always call back, people attitudes change when you do this)So anyway I'm use to the angry phone calls and remove me from your list speeches but this lady was so tired of getting letters from dozens of investors just like me and I felt bad for her. 

The seller is tired, which means there's a very good chance the contracts aren't that great, the properties are not well managed, a percentage of the tenants may be problematic, etc.The income per door, per month is probably low considering your location and average rents.

I know people need to walk it, but trying to avoid a bunch of tire kickers.

When people get tired unable to buy at Palo Alto, they may look at East Palo Alto. 

Move every 12-18 months until you are tired of doing it. 

Most of my note investors are like you started in rentals had a huge run up in West coast values tire of landlording cash out and then become the bank and get back to that passive investing they really want..

I’m buying a house for cash from a tired landlord that’s at least 20% under comps in the area.

The seller wants to retire and is tired of his business.

Find a tired plex landlord.