I've managed probably a couple thousand tenants over the past 8 years and I know how different people can be and how to be with different people. 

First dont take everything people say as gospel, There is a good chance what your consultant told you is not 100% true.  

You may want to get a face in front of these people, your own or possibly someone local who they will see as "one of their own".

I've sent you a connection request- I'd be happy to connect you to some people.

Lots of jobs, number one place people are moving to from the bay area.

You've learned a valuable lesson that all kinds of people in all kinds of businesses eventually learn......check your spam folder regularly.

Most people are going to see the limitation of a single unit as a drawback when you want to exit this property and you're going to get less money for the house in order to sell.

@Jay Mayer some people will tell you that a tenant will not move over a rent increase, but I can assure you that it will cause them to start shopping around.

We wouldn't use it the field because of legality issues with claims they make, we use something a little much more concentrated, but it's great solution for someone who's trying to DIY it.Tests can be great to minimize the what IFs people have and to get a tenant to stop bothering you about it, we have worked with a number of landlords in the past just giving them information so their tenant had some piece of mind.

But the example you gave, I would estimate $3M as a good starting point for the project.Your post liquidity also will be looked at as well.I would recommend partnering with people that compliments areas you may not be strong at for your project.