I didn't like killing stuff I didn't have to, even coyote or wolf.

The high appreciation results in high rent growth resulting in great cash flow over a long hold if no equity growth is extracted.A few years ago case logic indicated my market had an average annual rent increase of $600/month.  

It's more important to own investment income producing property that generates at least 10% annual ROI than it is to own where you live.

We've successfully delivered over 550 investment properties to over 180 clients worldwide following this process, and:Over 90% of clients have invested with us repeatedly, showing they are happy with their investments.Our average tenant stays over five years.2008 crash - Zero decline in rent and zero vacancies.COVID - Almost no impactEviction moratorium - Almost no impactFrom 2013 through 2023, the annual appreciation and rent growth rates were over 10% and 8%, respectively.Jonathan, I hope this helps.

A 50/50 split, while not uncommon in the world of flipping, is very sponsor friendly, relative to the typical syndication which will typically start at 80/20 or 70/30 splits, with a vast majority of proceeds going to the LPs, along with a preferred return that gives them 100% of the cash flow up to a certain annualized return metric.  

We have some properties with clay lines and minor root intrusion that we just clean annually for $100 rather than replacing. 

From a practical standpoint, I prefer Deferred Sales Trust rather than 1031... ( If one can make annualized 8% from any investments why become a landlord that yields less than 8%, right ?)

To be fair annually that would be a 3% return. 

"In a 2016 paper, Mark Zandi, chief economist at Moody’s Analytics, estimated that full privatization of Fannie and Freddie would cost the typical American taking out a new mortgage $1,200 annually.

The one performing is retail strips Fund.Long term I anticipate that 2 of my three MF deals will still turn a decent return (not the heyday level returns, but still high single/low double average annual return).