It's all academic at this point.

Yes, there are academic aspects that must be included but keep the end goal in mind - "getting Real Estate Rich" is a poor reason to invest.  

Academic papers have found that investors pay a significant liquidity premium on a REIT, that can cost as much as 12 to 20% during certain periods.

The exact same people who say new-age politically loaded  terms like "predatory lending" are the exact same people advocating the federal backstopping of  loans to everyone regardless of academic qualification,  or the desired course of study.  

Academically, yes, but not so much in practice. 

An academic paper was done by the University of Cincinnati showing that the liquidity premium goes up and down, but always exists and in certain parts of the cycle goes as extreme as costing 12 to 20%.

And it's useful so much more than academic knowledge.I'm not suggesting the military, btw.

Demand for rentals therefore stayed high.The duplex we had prior to the Great Recession one unit STR all year and the other unit STR in summer only and LTR in the academic year. 

Interesting read that aligns with the multi-generational trend of urbanization:"By 2100, academics estimate, 80% to 90% of the population will live in cities.""

If those how leave do that because the traditional manufacturing jobs have left and those who move in do biotech, academics, military, etc., I would be happy to live with that and I suspect you would be too.