The HOA's have too much control.

Keep your FICO high, control your expenses, keep them level to low.

Does your market have rent control? 

I chose crowdfunding because it gives more control and transparency and may be easier to track how the individual properties are performing.

In arbitrage you have no control, the landlord has all the control.

Things should appreciate out there, the neihhborhood is really good for young people, and you could control things living there.  

The other side to buying in almost all of CA right now is that evictions are not possible by any means, never mind rent control on top of it, but if you are adopting tenants in a 4 unit its not likely going to cash flow, and unless you have the ability to do cash for keys, and you have tenants willing to move then its another hurdle to cross. 

You may want to learn some more though and et control of your finances during this time.I help with the vibrant REI community in Lexington so if you want more details on that just DM me.

California AB 828 by Assemblyman Phil Ting ignores the robust rent and eviction controls already in place statewide.

You can then control everything remotely and oversee what's going on at your properties w/o being there.