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.

@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.

Certainly has been better times to get into this.It depends on many things like regulation, property location  and distance to places people want to visit. 

Typically a 3-bed would have a larger living space than a 2-bed as you expect more people in the household.

Newsflash, people break up all the time and money is lost in real estate more than it is made and saying that the market will "always" go up - my guess is you were not around from 1999-2002 or 2007-2010...

Any other companies people in the BP fam have used that you like? 

I really do think "house hacking" - people buying their first home and living in one unit renting the other 1-3 is here to stay and will become a bigger and bigger trend in the next few years - should push up values medium/long-term in the niche