Jude,
Yes, I invested in real estate, & bought multi family fixers in the early 90's. I got tired of working in a cubicle, and preferred the hands on approach of fixing up old properties. I never dreamed prices and values would increase like they have. The rents are now 4 times what they were. I've invested $75k - 150k in each unit, to fix them up, new roofs, bathrooms, kitchens, foundations, windows, plumbing, electric, etc. As the properties increased in value, I was able to refi the mortgages, to finance the repairs.
I was opposed to rent control. There is now a CA rent control law, limiting rent increases to 5% + CPI/yr. However in Sonoma Co & some other counties, The Gov Emergency Proclamation limits rent increases to 10% since the 10/17 fires.
All my units are at "affordable" rents. Half of my tenants are on Section 8. A few units I've not raised rents in years.
"Affordable rents" are in line with Section 8 guidelines: up to $2100 for a 2 bedroom/1 bath house or apt in Santa Rosa. Yet "affordable" is a misnomer. For a couple to "afford" $2100 rent, each would have to be earning $22.50/hr & working full time, or one person making $45/hr & working full time. Many jobs do not pay that. Many jobs are part time. It can be hard to find a job that pays that. This results in the housing and homeless situation we are in now.