You cannot get hurt in long term real estate investing (10 year time horizon) if there is positive cash flow from day one. 

My wife and I are looking for alternatives to investing in the stock market to increase net worth long-term and while we value cash flow from an investment property, we have a 15 year retirement horizon.  

Over a long enough time horizon a BRRRR is likely the best play assuming a long term boost in prices and a long enough hold period.

Here is an easy way to make the decision :Decide what is most important to you in a real estate investment :Tax benefits - depreciation or paper lossesReturn on Capital - Overall ROICashflow or Cash on Cash ReturnInvestment Time Horizon - Length before capital returned or deal finished.Education - Learning a type of investmentActive - Hands on or some participationPassive - Hands OffOnce you decide those you can pick an investment that matches the most of what you are looking for.

For example you can find your average cost per kWh there and see if it's cheaper (on your time horizon) to get panels.

It would have good return in 5-10 years horizon, IMO.

I am happy about all tips how I could maybe invest in the San Diego area after all given my budget (1-1.5M given 20% down)SincerelyStephan If you're planning to just buy a property, have someone manage it, and rent it out right away and right now, look elsewhere (unless you've got a really long time horizon). 

With that background, does it still make sense to buy in Austin if my horizon is about 15 years to see a worthwhile return/appreciation.Any comments/inputs are much appreciated. 

@Susie LoweI would suggest looking at Horizon West as well.

I think a few of the factors that can help you figure out which strategy to execute in a particular market would be things such as your risk tolerance, your investment horizon, your capital, your desired outcome (Do you want to quit your job ASAP?