But then you have a partner who may exert some level of control that you don't agree with, or are constantly stressing and calling you to let you know, etc.Then there is debt.  

I am looking at a constructing a single family that would extend into the floodway (not Floodzone) of a studied stream.

Are you ok with building a business that needs constant sales and marketing training? 

I can also say I believe these areas will show great appreciation over time as well as they're constantly growing and becoming more attractive.

As a result I did a lot of investing over the constant objections of my wife. 

This provides a steady income stream with minimal risk.Appreciation Potential-The property has appreciated significantly since purchase, and you could continue to benefit from further appreciation in the future.Minimal Hassle-You're already familiar with the property, and since it's paid off, you don't have mortgage payments or associated risks.Cons:Limited Portfolio Growth-Keeping the property means your investment portfolio remains concentrated in one property.

If you're going to own what is effectively a vacation home that is shared with guests that enjoy the outdoors, the Oregon Coast offers a little bit of everything from surfing, golfing, fishing, hiking and investing..The bull's eye for STR investment in general is shrinking and constantly moving.

In a 1031 exchange I had to hammer both with  threats due to the agreement to cooperate and the constant surprises of new partners and unfilled liens with an approaching lapse of the 180 day limit. 

You also get access to the Deal Maker Mastermind group and I am constantly connecting with other students.

We bought our first property in the Smokies in 2005 and now currently own 5 and manage about 30.We now have a lifetime income stream from the 5 properties, with modest mortgages on just two of them.