So it is not like we aren't receiving both.If you are working a job that sufficiently provides your means of living, it would be easier to make an appreciation play, knowing that each year you pick up 3-5% of value in the property - you don't need the cash-flow necessarily up front.  

When we were starting out we had a killer deal (two duplexes that were positive from day 1) but it took us a few days to get the financing and guess what, an investor that did not have that problem picked them up and is making a great profit on them. 

For some reason you picked me to reply to .

@Robert Gilstrap several reasons:1) Investors think they are smarter than all dumb ol' PMs, so the cheaper idiot the better.2) Investors think PM services are a commodity, so if they all offer the same service, price is all that matters3) Investors don't do enough research to understand everything a PMC does, so in their ignorance they default to shopping by price.Take your pick!

It is VERY heavily biased toward renters because of the military base, meaning picking up SFRs is easy and keeping a good one full should not be a problem.

Reading between the lines, if they were open to a concept shift, they weren't open to it soon enough to make the pivot before running out of money.So my buyer picks it up for a tad under what the seller paid for it, a few years ago, before the $500k in upgrades.

Tell the tenant to Pick one. 

And I never ended up actually working with any of the people I met with/talked.The best thing you can do is pick a market and educate yourself like crazy on that particular market.

When you have to hold units empty till the HOA is totally satisfied with your picks, it can be financially devastating.

And yes I pick up slack as needed.