Not sure where we're headed there;  definitely more volatile/fussy than the rentals.  

One can say there are some volatility, but time will greatly ease them.

You only gain an extra 6 days, and you could be putting an unsuspecting lead into a volatile situation they're not prepared for.Best of luck to you, but sounds like you're well on your way to having things handled.

The stock market is to volatile to be a fair comparison.  

it's been stable, growth is conservative so very minimal volatility and big enough to thrive, but still has a small town feel @Tasha BealWhat's your degree going to be in?

Risks can be mitigated and avoided to a large degree, but never fully eliminated ... so there is no investment vehicle in the world that will allow you to multiply your money 2-8x in 2-4 years with zero risk ... you should run away from anyone telling you otherwise. 4 things will keep you out of trouble and safe in a downturn, and you need all 4 (not just one):Equity: From a down payment and/or forced and/or market appreciationQuality Cash Flow: Not just any cash flow, but low maintenance, low volatility, stable, high quality cash flow that comes from high quality tenants who want to live in high quality property in high quality location.

I don't want to apply property value, because I'd first like to build a platform that relies on incomes that aren't so volatile.

Much like any area, your higher cash flow areas are more volatile.  

But at the end of the day if you can get %12 or better investing in a secure asset, that is better than getting 6% in a volatile asset... every day and every way.

We look for states/MSA's where there is stable market appreciation, positive employment trends, decent population density and lower risk of climatic volatility (hurricanes, tornados, etc).