The economy is rapidly growing so we see both cash flow and appreciation potential here.

In general the economies of scale as associated with the larger properties just makes them easier to manage and causes them to cash flow better.

On her site she talked about the economy there.

Not because of interest rates or the economy, but becuase there's so much more interest in this asset class. 

The local economy is not very good at the moment.

"California's homeowners insurance crisis is growing and spreading to car insurance"https://www.kpbs.org/news/economy/2023/07/07/californias-hom...

Pros: Diverse job market, low unemployment, great resilience during recessions, nice appreciation, 1% rule can be hit if you look hard enough, great economy, good schools, Midwest nice.Cons: Extreme weather at times (hot/humid summers, tornadoes/hail, brutal cold in Jan/Feb), high insurance premiums, property taxes also really high.

What if you pick the wrong project, or the wrong sponsor, or the economy changes, or the business plan doesn't work out. 

This wasn’t a failure (if it is a failure) because of purchasing at the top; the economy crashed; pandemic closing everything down; or a massive failure of the financial system.  

Dividends were paid from the get go, but changes in the economy affected the valuations.