He started just part time while on a demanding W-2 employmentc that he really did not like and worked there about two years during his first stage.  

If the community bank which can essentially take their interest rate on the loan to practically zero there is no working room for a private investor who has a higher return demand on their capital.  

Right now demand is significantly higher than supply.  

Also there is a large demand for rentals here as the rents are cheaper than Chicago (because of property taxes) so people move here all the time from Illinois.

Like demand and rental rates and the importance of the location.  

@Bob Foglia really depends on if you want to keep these tenants and if you think they will make more demands.  

I guess I should ask some local realtors about the demand & rates for rentals here.  

You will offer a contract of sale where there would be no commission or settlement cost and that your offer is NET to seller.Once you have control you can now work on locating an assignee - you have options -List it - not a great option -  if you want a fast sale -listing it will take too long - too many contingencies - too many gate keepers.Offer it privately for sale - all cash - as is - social media - too many moving parts - you need to negotiate with prospective buyers, show the property - write a contract of sale - and demand CASH - won't be easy - My favorite option (remember I am an auctioneer) - offer the property - while in contract - at PUBLIC AUCTION - advertise it for 3 weeks and let the auctioneer do his magic - it is fast - predictable - all cash and as is without contingencies. 

And that's too good of a deal to pass up.There are surely some other factors affecting this, but if you ask me demand for the Bay Area is dwindling and the numbers show it.

My research so far has made me interested in areas like Culver City and Hollywood because of the high rent and demand of the market.