If you can land a national tenant versus a mom and pop the cap rate you can sell at is more compressed generally which increases your exit value especially on a newly minted NNN lease.

The cashflow is good, appreciation maybe if I optimize NOI and cap rates compress and find the right buyer but CF is the goal.I'm also a buyer of upper tier single fams IF I buy off-market at a discount. 

We've had success with cashflow rentals around Seattle by getting off the beaten path- there are established investors bidding up the price (and therefore compressing the cap rate) on many small multi-families, but those same investors are not going after large 5-9 bedrooms SFHs that you can househack by the room or split up with an ADU / MIL.

You live local so might be a fit for you to take some liquid and diversify the portfolio as you age and might not want to work as much on your assets.I am 47 years old myself and know I do not like owning active type of assets.Example I can buy a pharmacy with a few years left paying on the lease for a 10 cap or better and then collect the passive money while I wait to negotiate and extension with the NNN tenant or place in another tenant at same or higher rents with a longer term lease and achieve cap rate compression and value add.I got away from residential decades ago.

The cap rates are compressed and good deals are hard to come by. 

Nick, yes the cap rates have compressed a lot on the DFW market lately.

Within that cycle by asset class each state is cycling at different frequencies of cap rate compression.Yet again within that the cap compression and available properties depends on the deal size.If I have  a client wanting all national tenant for a 3 top strip center at 3 to 4 million then likely cap rate in the 6's.

The result is car washes and laundromats have compressed cap rates to levels where it is difficult to compete. 

Gino Barbaro 1/How to get more deal flow, even in times where cap rates are getting compressed(already posted this one, buddy:-))2/How to properly line up investors so when the time comes they will get on board.

Either way, I think banking on cash flow as being the larger portion of your overall returns will be the safer bet since you can't necessarily bank on the disposition making up the majority such as when the cap rates were compressing.