Thanks Stuart.I don't think a "thesis" is necessary for real estate investing.Your mixing "thesis" with speculation and prediction IMO$1m in cash is retirement for someone that knows what they are doing in "low barrier" markets like you mention.Same can't be said for higher entry markets.Those that don't know real estate will loose no matter where or how they invest.Personally, I don't care about appreciation as I don't get out of bed unless I can net cashflow 20% net on a deal.For example, just bought a 6 unit in a B class area for $160,000.Currently occupied and renting for $3,000pm.Once minor rehab of $50,000 is completed, rents will be $4,500.I have an offer to sell as is for $250,000.ARV is $350,000.When interest rates go down, value will increase even further due to commercial lending being easier.No need for appreciation on such deals.I'll take them all day long over any appreciation potential.Again, just my opinion and each to their own.

I am also looking I only have 6 properties and use a mix of apratments.com, zillow, and QBO but QBO cost so much for the pro per month to have everything automated into it.

@Cheyenne Bolin, as you've noted above, it's a mix of everything.

Hello all, I have mixed use building with 100% equity and multiple years of rent history.

Houston, with its mix of affordability, career possibilities, and diverse tenants, may be a viable alternative within your budget.

Be aware that Prescott and Prescott valley has "county islands" mixed into what look like large neighborhoods which the properties are on septic and propane. 

We are a mix. 

@Nancy Chawla, In a mixed use property like this your accountant has already split up the property into the investment allocation  and the primary residence portion. 

.- Yes to paint, easily the best ROI- I'm not a fan of door knobs and cabinet hardware- Making light fixtures uniform in color/style, so don't mix brushed nickel and bronze.

We manage nearly 175 units (mix of SFH and MF) there and love it.