It’s very hard and dangerous to start out in large scale multi family without mentors or partners.

That said,   you can still offer both the carrot and the stick insofar as offering fewer/less rent increase if they agree to a longer term lease. 

The ROI is debatable, but it seems like that we earn the money back with fewer turnovers - we still have original tenants in many units after 7 or 10 years.

I know enough to be dangerous and want to make sure that if I decided to take on a friend as a partner?

After a quick google search to help you understand your rights with this situation in California, I'm just going to say that there is some dangerous advice in this thread.Call an attorney.

There are much fewer of them on the market, the majority of them are not in A or B neighborhoods, the majority I see are in need of updating/rehab, and you may need a larger down payment.

Historically speaking, if interest rates rise, fewer people can afford to buy a home (unless real estate prices dropping proportionately)If fewer people can afford to buy a home, there will be more renters on the market, creating an increased demand for rentals.Increased demand with limited supply in theory should lead to an increase in rent (correlated with rates rising)All that being said, I don't see residential landlords having much room left to raise rents (in my market anyway).

Landlords with fewer than 10 units may place deposit in an interest-bearing account in any New Jersey financial institution insured by the FDIC.New Jersey Security Deposit Returns: Laws, Limits & Deadlines

Rule #5: The Fewer Cash Buyers On Your List, THE BETTER!

Need to ID properties by May 26, close by Oct 8.CONSIDERATIONS: 1) the California "clawback" law will follow my properties til i sell them to get their money eventually so fewer properties may be better.2) i've got great credit but I'm not W2 employee, everything is C Corp for me right now.