Cash Flow or Appreciation

[Thomas Castleman]

What is the best way to invest in the Atlanta area market?

1. Cash Flow

2. Apprciation

[Joe Villeneuve]

Quote from @Zachary Ware:

If you want to be in the RE investing game long term, you need both. Cash Flow is protection in down times and you should not buy for only appreciation. Appreciation can sometimes be equal or greater but you don't realize it until a refinance or sell. 

Exactly.  Appreciation gains you equity.  You don't own the equity, the property does.  You own the property.  Not the same thing.