I do agree with the sentiments from others regarding the experience factor.

There are more factor to look at than the cap rate.

It covers their possessions and the lifestyle they desire.

@Pete TarinCheckout the data on vestmap.com, it allows you to search any location and get the DISCERN factors at a glance including income, crime, schools and neighborhood indicator stores.

The biggest qualifying factor is positive cashflow.

The gross amounts usually include cleaning fees, which you then pay right out to your cleaner, so factor that in when you figure out your net. 

I know that sounds crazy, and you and I would never think to do it, but people do.At the end of the day, inheriting tenants is a gamble and risk you need to factor in.

However there are more factors as well.

Appreciation is a bit riskier since it depends on factors we can't always control, such as school levies passing, business success, crime reduction, etc.In my opinion, it’s hard as a newbie to jump into appreciation properties, as they require a lot more initial capital to acquire.

I have not heard any speak of the most paramount factor "opportunity cost".