After all, I had been comparing apples to oranges.

Apple just announced a Netflix competitor they are launching with original programming from big name stars.

Since then I started using a magnet.

It like when Apple or Tesla pays hackers to find problems in their code.

I actually don't consider comparing syndications to 'landlording' apples to apples at all.

They are not really investors but speculators.Micheal  its totally apples to Oranges  when i got into this game a century ago or it feels like that.. investors did not buy SFR's per se like they do in droves today.. and from my cheap seats.. all the new construction we build not a single property goes to an investor.. price is the price and you get to the price by cost plus profit and profits are generally 10 to 20% of gross sales prices as your cmpeititon backs into it the same way.its only the last 20 or so years were soup de jour is getting rich only rentals and the easiest way to do that is buy low value SFR.. beginners can t start generally with 2 mil apartment complex.. but they can a 75k SFR.. 

We look at expected cash flow and return on capital more than NOI, although NOI/Cap Rate is a nice number to compare properties on an apples to apples basis.  

The first couple chapters are motherhood and apple pie.  

Both have performed relatively well only bested by my scant amount of Apple stock I think :-)

Apple changed it INtel changed it.. and now well its just what it is..