Time To Buy A Rental?

Is it time to buy a rental here in the San Luis Obispo real estate market? Large numbers of investor are betting on it. I just had a great client that wants to by a triplex or 4 plex. Her idea is to live in one, and then rent out the others. She explained to me that with rent going up at 4.7% annually eventually the increase in rent would pay here mortgage. She wasn't afraid of dealing with tenants. She looked forward to it. She saw buying a home as an investment. At first when I thought about what she had said I couldn't imagine doing it. But then I realized how much money I would have made if I had done this 24 years ago when I bought my first house. By now I could be living in a 200 unit apartment building that was paid off! It really makes you think about her idea.