All I know is that the classic property investment approach for the most of the older Bay Area Chinese population, irregardless if they are 1st generation or 2nd generation immigrants is Buy and NOT rent (unless it is low cost housing) even if there are 4 people sharing a bedroom. Build/remodel more rooms “under the table” to avoid inspection to keep overall cost low. Forget high-end fixture/construction and just go with cheap or low quality construction/contractor bids. Then repeat for another building and and rent it out hopefully to Section 8 tenants to have a “steady” cash flow and “retirement” income.
Only problem now in the Bay Area is that the entry price for a SFH and remodeling costs so high that most low income families even working 2 jobs will not be able to save up to compete with “cash buyers”, highly paid, or “Tech” workers. Guess have to wait for the next down turn.