However, in a recent conversation with Home Union, a national turnkey-ish company, they stressed how important it is to invest in high-growth and "emerging markets," and said that I should accept cash-on-cash returns of ~4-5% in exchange for the higher long-term gains and reliability of tenants to pay rents in these growing areas.I am conflicted because everything I have read stresses cash flow so strongly and that appreciation is just "icing on the cake." 

@Justin Furtado can’t have your cake and eat it too.

Ch. 1 Why I Love Rental Properties Ability to use the leverage Ability to hustle for greater returns Ability to manage my investment directly People always need a place to live Its worked for millions of people before me Fairly stable and predictable for those interested in long term gains Not having to be presentThe 4 Wealth Generators (from a rental) Appreciation- natural and forced (the only generator flippers get) Can be very risky but can be the icing on the cake Cash Flow- buy properties that offer cash flow today.

future appreciate is more like icing on the cake for us.

You are trying to have your cake and eat it too.Brandon wasnt finding 12% cash on cash in tempe.   85281 is a top 5 fastest rent appreciation zip code in the country.he was finding 12% CoC in podunk washington.That said, you can find deals in some of these suburbs that need huge amount of repairs/rehab, or there are some deals foreclosures.Or you can invest in the ghetto's of PHX. and get 12% CoC possibly.Or you can invest out of the state which I've been doing the last couple years.

These guys have not paid anything since we purchased and apparently didn't pay much to the previous owner.All that and the icing on the cake??

I currently live in Anaheim and am very new but have set my sights on the BRRRR method.

I don't know you personally, but I have doctors in my family and know that it's not a cake walk.

You can have your cake and eat it too.

I'm really happy with having made that switch for a LOT of really good icing on the cake reasons that I didn't necessarily anticipate.