You would have to be nuts to invest for appreciation.

[Engelo Rumora]

We all saw in the big crash what can happen to the value of a property. I remember (like it was freaking yesterday) a property an investor purchased seven years ago for 93,000, and that was appraised 7 grand above my purchase price. Eighteen months later it was valued at 40k below my purchase price. Most people would shout a giant "F---" as the banged their head against the wall. Unless of course they knew that it was in $1000 a month rental market.  

Do the math:

$93,000 purchase

- $40k value loss

+ $96,000 in rental income...

(the hell with the fact that the property has regained 100% of its market value)

= Go for the cash M8s!