Affordable Housing Incentives -While SB 9 encourages new development, it also includes provisions to protect existing tenants and preserve affordability.

Tell him he clearly can't afford the rent and things won't get better.

I guess the only thing giving me hesitation is that it looks like housing prices are at all time highs even after adjusting for inflation:https://fred.stlouisfed.org/se...Housing affordability is worse today than it was at the bubble peak in 2006 if you believe Case Shiller data. 

Given that affordable housing is a national issue it seems that the more pathways to home ownership is a good thing.

If so, invest.Then ask yourself if you're financially fit; can afford this property to make it 1.25 DSCR and have significant reserves for vacancy, capex, lead times, etc.

It's about targeting the right audience at the most affordable cost.

Many cannot afford the assessments. 

My rents are high at $6300 per 3BR unit so I guess the risk is if economy goes south and no one can afford the high rents.     

Many people want to invest in real estate but can’t afford to buy an entire property or deal with the hassle of being a landlord.

It was actually affordable 2018.