I'm looking for some advice on my situation.Said situation:My wife and I own a SFH, that we bought in 2015, before we got into real estate investing.It is in an area that has appreciated rapidly and is extremely desirable for tenants.Some facts (as of now): The property cash flows. 

Since I do live in Southern California and the prices of homes are really high and going up (quite rapidly) every month I was considering investing out of state in more favorable markets.

@Robert VanZee I am a Realtor and investor here in Grand Rapids.

I'm under contract to purchase some smaller multi's in rapidly changing neighborhoods.   

When the next panic hits, and people rapidly pull money out of those ETFs, it could accelerate declines as those ETFs are forced to sell off stocks in order to pay those redemptions.

It's just: you passed, or: you failed and here is your score.There is the ability to contact an instructor with questions which are answered rapidly.

I would think that rents would go up for your current place if the values are appreciating rapidly. 

Then the only way you could get the cash back out of it to invest later would be a HELOC which is subject to the rapidly rising interest rates or a c/o refi at a much higher rate than you have now.

Does anyone else invest in Grand Rapids, Michigan?

A great real estate agent (and investor himself) is @James Marshall in Grand Rapids.