Driving time is likely to be such an important factor in your success long term.I wasn't aware of Niche.com, @Paul De Luca.

Considering the FED cannot really control interest rates and at best can control the short end of the curve it would seem to me that Jay Powell would be in a position where he cannot raise rates. 

It is crazy expensive here with no signs of slowing down (SD appreciates 6.94% per year on average which is higher than the majority of markets around the country).I personally like the idea of purchasing a low down payment personal residence as a first investment, that way you have more control of what happens.

This would allow us better margins and more control.

Except for the vehicle of a delaware statutory trust (which are not normally thought of as syndications) you must be a tenant in common with the LP or LLC that is doing the syndication. 

sounds like the government just wants..... wait for it... more control. 

I believe that it is a great way to sort of ease into the industry and get my feet wet in a way that is more controlled and manageable. 

This is fine to a point, but no one can control mother nature, or where mother nature decides to toss a tree (on someone's fence, car, or 3 houses down). 

There is the chance that your tenants do not know their rights under CA rent control.

Offer Seller Finance, agree on terms and condition, and collect a monthly mortgage payment, you will still technically control the property without a property management, and taxes, insurance, toilets will be the responsibility of the tenant/Buyer.