I think its just the mental aspect. 

The fundamental aspect why stock market index can outperform real estate is because(1) with stock market index you invest along with other people in planet, as long as there're more buyer than seller price would just go up(2) is using statistical average, eventually stock market index would perform better than aggregated real estate, that's why a cap rate 3 private REIT can't mathmatically speaking outperform stock index.But then how about all these "Real Estate Active investors" ?

I do not know the answer but I would suggest you not rely on the anonymity aspect of anything today.

The appealing aspect here is the ongoing population growth and other economic factors.

Most newer investments who think they're purchasing a property well below market price are NOT; most likely they aren't accounting for some negative aspects of the subject property.

Consider Consulting a Professional: If you’re unsure about any aspect of property taxation or need assistance with assessment appeals or tax planning, consider seeking advice from a qualified real estate attorney, tax advisor, or property tax consultant.

^^^^^^OMG THIS RIGHT HERE^^^^^^^^^^^^^^^Nothing to add to this but maybe pin this post to the top of BP as it relates to all aspects of real estate. 

You can't really control that aspect of the investment, but you can control other numbers and steer the investment to positive cash-flow.

This diversity ensures comprehensive coverage of all aspects of the investment process.🔍 Due Diligence: A strong team conducts thorough due diligence, leaving no stone unturned.

thank you for all of the great responses.My original goal was to end up with approximately 10 SFH to supplement my retirement, but now that I have a couple in the works, I'm open minded to all aspects of RE.