However, this does not take into account price appreciation which historically on commercial property has averaged 5 - 6 % over the last half century.

Or buy 1 property a year/decade/century.

Hey BP,Searching for multi-family properties hasn't been as easy as I would have expected given that we're in the 21st century...or am I missing something?

I will say our 2 STRs have mostly been operated as STR since the last century and are in an area where most of the units are STR. 

One more thought, a lot of the construction there is from the first half of the 20th century, budget for fairly high cap ex & repairs/maintenance when running your numbers.   

All it takes is the end of a half century long demographic and monetary regime.

Independence, MO 64050Completely Redone Mid-Century Modern Ranch!

The mid century modern style similar to the palm springs area is pretty popular here and a pool is a must.

Sponsors for these types of investments also should not take all of your money even if you were willing to invest all of it.What strikes me as very odd behavior is seeing people hoard money and try to cherry pick the deal of the century instead of placing smaller (but still big) bets in very good deals.

When Ben Bernanke debases the currency (which was a death penalty capital offense in the 19th century), he is creating digital dollars at the speed of light without any distilled work to support the new dollars.