Aside for diversification and getting higher returns as the case may be, another advantage of owning property overseas is when you get sued at home, as it's going to be more difficult to your creditors to get their hands on your property.

The transaction allows investors toincrease the liquidity and diversification of their realestate investments while deferring costly capital gainsand depreciation recapture taxes that may result from thesale of a property.Benefits: REITs also can provide the same ongoing benefits of real estate ownership including income, depreciation tax shelter, principal pay down, and appreciation.

While I can't provide real-time market updates, I can offer some general advice to help you make an informed decision.Investing Out of State:Investing out of state facilitates diversification by distributing risk among a number of marketplaces.

Especially for a doc who may not need the cash flow but needs tax benefit, and proper diversification for retirement.

@Matt Everling I wanted some diversification outside of my Florida market and I looked at the up and coming areas in the midwest with good potential for stable cashflow and lower entry points.

some of the peripheral questions @Jack B. is asking:-optimizing your portfolio - potentially selling off either low performing or high appreciating assets, and-diversification into other asset classes?

Follow rule #1 of investing - diversification.

As much as like good investments and diversification from only stock, bond investing I know I would be happier without this property.  

Risk diversification, don't pick a sector, don't time the market, no leverage,  etc.However, what is real estate investing? 

Considering your long-term goals, multifamily properties may be a better fit due to their potential for diversification, higher income and economies of scale.