These are all 100% great aspects of rental investments, don't get me wrong, but they should be the icing on the cake of any turnkey model.

I also did that due to my San Diego single family rental properties that were selling like hot cakes, over asking with bidding wars too.  

Of course appreciation is absolutely the icing on the cake if you can get it.

The process is a piece of cake.

That's the main entree not some icing on the cake, unless you like cake that's all icing.Let's do an what-if analysis.

I'm not saying to ignore cash flow, I am saying consider the long term, not just the short term, and appreciation as well as cash flow ... appreciation creates both equity and cash flow, since price and rent increases go hand in hand, so even if a CA property cash flows less than say the midwest on day 1, if the last 50 years of steady appreciation in CA and no appreciation in the midwest (after inflation) holds (quite likely IMO), then its cash flow will quickly catch up and then exceed the midwest, and that will be icing on the cake compared to the equity increase.

@Adam JuodisHi AdamI think all investors should be investing first and foremost for cash flow and secondly capital appreciation, the icing on the cake.  

So self managing here is a piece of cake and we're physically here to deal with anything.As for our rental properties out of country in the US (CA and NY) and Japan, there's absolutely no way we would be able to pull off self managing any of those properties.

I am looking to house hack my first property, and my buy box criteria are below: Buy Box #1: CASFR w/ ADU or Duplex (Multi-Family)Class B, C AreasPrice Range: Under $620K Light Rehab or Somewhat Turnkey Areas I'm considering:Long Beach, Seal Beach, Anaheim, InglewoodSan Diego County Close Proximity to Hospitals, Ability to rent 2nd Unit to Travel Nurses, MTR 1.

I am finding all sorts of properties in Lake Forest, Santa Ana, Anaheim, Fullerton, etcI know of low down and down payment assistance programs that could help too.I would also like to put together an investment fund for just the thing in OC.Thinking goes, we buy a multiunit and turn into a co-op or TIC [tenant if common] , this brings your cost of living down much further compared to a SFR or even an entitled condo.