The key is to have clarity on what each offer and then decide what’s best for you.

I'm just hoping someone with actual knowledge of it can provide some information that offers an alternate explanation.

Properties are not like stocks where After IPO the market cap is so large that that most of the life changing appreciation is gone. 

Yes, it's true that you might be able to find a product you need at a greater discount when a brand like Wayfair or CB2 is having a sale, but I've found that they truly do offer superior discounts at scale, even considering the fee. 

She has some stock (maybe 50k), some retirement IRA of around 100k which I believe she has started to take and then maybe 20k in her savings account.

i work full time too, so i can only do one big project at a time, and can only make about 1 offer every 1-2 months.my stock answer to anyone is to invest where they live - and for expensive metros that includes 1-2 hours out. 

I just want to compare the real estate and stock market investment.

Seems a bit high on the exp ratio near 43% but we do pay a premium for our solid cleaning lady, she also stocks supplies, runs errands and other duties for no "extra" charge.

If you’re open to exploring outside the Bay Area, markets like Milwaukee, Chicago, and parts of Indiana offer strong potential for flips and rentals.

Quote from @Mel Kirchhoff:Some specific questions I have:• Should it stay fully stocked like an Airbnb (plates, utensils, towels, etc.), or pared down?