I don't like to gamble on rent appreciation.

I'm done buying inflated NNN rents at 6-7% caps. 

Deal 2: Duplex (older home that needs TLC in good location)Purchase price: 120k, Rehab 40k, Total all in: 180kExpected Rent: $2,400/month to $2,700/monthDeal 3: 5 Plex (is that even a word?

Hey Stephen, since you are no stranger too renting at the moment.

-------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You can use airDNA for market statistics to see what the property would rent for and to to see what a comparable nearby is yielding. 

The property is in a great location,  close to stores, restaurants, fair grounds, freeway access, and less than a mile from hospital.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

If it's turn key and rented you would analyze current rents vs expenses.

Lots of competition for tenants at this moment, which has been dropping rents down, rent concessions etc.Good luck on your journey!