If/when some or all of the investment props look ripe for sale (not soon, but later if the market starts to peak and your friend wants to lock in appreciation or move capital to other markets) use a 1031 Exchange to leapfrog into better props elsewhere, diversify markets, expand their portfolio, move into MFRs, whatever makes the most sense.

These markets have different rules, I also believe that we are still not at peak, record is just that, a record, it doesn't mean it couldn't go higher.

In another 200 markets, prices increased by 20-to-39 percent.San Francisco, Nashville and Pittsburgh are among the 15 percent of housing markets around the country where prices have actually risen above their prior peaks in the mid-2000s after adjusting for inflation.

My original plan was to purchase one or two rental properties, either SFHs or MFHs, but after reading up on wholesaling last night, this area has my interest peaked!

The benefit to cash is speed in deals.

But it looks like the house prices are at the peak and wonder if the price might fall soon. 

What's the speed limit?

You may even find a mentor there to speed up your learning curve.  

I highly recommend it to anyone who is in a similar position and looking to get up to speed by learning the basics.

Just trying to speed things up