Is that an apples to apples comparison or a gross?

In apple season, you pick apples. 

Michael,If you want to see apples to apples you just have to look at and ask what are the "Hard costs" aka BS fee's! 

You will have more vacancy when you do have a turnover and you might not collect as much rent as you would for a similar priced non age-restricted unit. thanks Aaron appreciate intellectual feedback agree there's lost of nails attracting the magnet. 

I compare the investment to california to a high growth stock like tesla or apple and cash flow investment to divident play . as long as california produces the googles of the world appreciation would trump cash flow . some people do want steady flow of income so cash flow is preferred but if one is comparing strictly ROI then california would better .

By the way Riverside county where my propertys are at, it Appreciates and will continue to Out Appreciate over El Montes Appreciation % per year if we compare apples to apples.

If you search Austin Real Estate Investing on Apple podcasts it'll pop up

. #7 meet the employees. if a company has shady looking employees that aren't professional, the apple wont fall far from the tree. 

It should cover all of the legal needs of a lease which will protect you on rent amounts, deposits, who is living in each unit...etc.I also would make these leases be month to month in case there is a bad apple in the bunch it is easier to get them out.

Calculating that requires use of some basic finance metrics (such as IRR or discounted cashflows) to compare apples to apples.