Wealthy investors are looking for places to park their cash, They are not interested in actually making money aside from appreciation.

It can be frustrating to see how tenant friendly laws can be, but at the same time you will become wealthy if you keep your eye on the goal instead of focusing on some small losses when you have the occasional eviction. 

If you have more cash flow from investments than your expenses and don’t have to work but can live the lifestyle you want without working then you are rich or wealthy.

@Eric MayerYes, being wealthy is not a protected class.

Also, it is apparent to me that the long term wealth is in buying and then renting out properties.

There was a recent thread on this where everyone was saying crap CoC is okay to them because appreciation builds WAY more wealth. I

one "wealthy" school's mentality was to keep buying new/better crew boats when their crew team lost. 

That's a lot of properties and unless you are already fairly wealthy it's going to be hard to achieve.

Everyone has their own opinion about investing in the Bay Area and there is a reason why so many that invest here are wealthy, but the competition is fierce and challenging for the most part if you are just starting off.  

Not sure if you know but house hacking is where you have a home and you rent out a room essentially someone else is paying your mortgage/rent........or you could rent a room but we are trying to get you wealthy here.