In the Bay Area, buying whatever property, doing nothing with it, and selling after a few years has been a very profitable strategy. Will it continue to be so from now on?
Los Angeles (where we were) is a bit more volatile (ie it actually goes down now and then). If I had bought property in the Bay Area in, say, 1999-2000, I’m quite certain I’d be more willing to put up with tenant bullshit in exchange for nearly endless appreciation.
YMMV!