(depending where you are in CA)For me that's an easy decision...I'd sell and take my money to a more investor friendly market.

Now 5% is a negligible return for most investors but given the property is already working its a great dividend play on any money I make and a more reliable dividend play then stocks or bonds.The RubI have watched friends, friends of friends, and my parents work to find the home runs that make huge dividends for them.

That being the case they will usually rate you a little higher for those type of policies as opposed to your primary home / auto insurance that is getting a more preferred rate.

Not all my relatives are reliable and trustworthy but my siblings, grandfather, and these uncles are.I don't like the distance this place would put me at, but I think eventually when my grandfather inevitably passes, (and when my siblings and I find spouses), I could move to a more central location and rent out and manage all the houses (which at that point would be 5 sources of rent or more).Is this a realistic idea?

Here is an example:Find a deal at 50-60% of ARV, tie it up, utilize equity in another asset as a collateral assignment temporarily, spend 2-5% of ARV to fix up or retenant the property, then receive up to 75% of ARV back (cash out refinance) thereby "netting," you cash back ,  allowing you to acquire a property, and provide you cash flow (depending on your market).This would be a 0% down deal or negative down deal since you're getting cash back up to 75% of ARV.Yes you need collateral but, not necessarily since a more experienced individual with collateral or high net worth person could assign collateral on your behalf (perhaps a mentor).So by combining creative techniques, your own or assets of others, deal finding ability, and knowledge of the banking products and how to converse with bankers you could create and print money out of thin air (well you do have to invest your time of course).

They are a great place to go and meet people, and if you hit it off, invite one of them to meet up for a more in-depth discussion.  

It's better to talk about how good it looks, or how homey it is, because that evokes a more positive emotional response.Also, if you're listing on the MLS, you don't need to talk about the fact that the garage can be converted to another apartment in the listing, if you describe the garage sufficiently, investors will know that it could be an apartment ... and talking about work that needs done distracts you john and jane doe buyers, because they don't want to buy a place that needs work, they just want to buy a place and move in that night.EDIT: Robyn Thompson is the person from whom I heard about using 'renovated' in listings, wanted to give credit where credit is due.

Once tenants are in and rehab (if needed) is complete you can refi to a more palletable rate. 

Once you do that, you need to subtract out the repair costs to come to a more realistic price.

It is just hard to immediately leave the security of a great playing career with a wife and 2 year old son.With that said I decided to get my license to 1) be able to cut out some of the middle men, 2 ) Gain access to the MLS and appropriate forms, and 3) Practice RE for friends and family or on a more time appropriate basis.