I wouldn't recommend anyone buy (unless it's distressed) with a time horizon of just 5 years.

.), but all the options involve converting one asset on your balance sheet to another in some way.I do agree with you that the BRRRR method is just one approach to investing and it can make sense for some investors, and it also might not depending on their risk tolerance, approach, time horizon, experience etc. 

Is there any specific areas you generally invest in or are your horizons pretty broad ?

If you invest in improving areas, you will very likely see appreciation in excess of inflation over a sufficiently long time horizon.

You can get the entire entree out here for that.Longer term, if California doesn't bankrupt itself trying to give citizens of other countries free health care or provide cell phones to the homeless, and actually makes the vision of the California High Speed Rail a reality, or self-driving cars become mainstream and allow commuters to work on the road to work, then Sacramento will absolutely fricking explode with Bay Area commuters.But then again, we may have FAR bigger problems on the horizon, with automation, robots and AI set to replace as much as 73 million jobs by 2030.

I evaluate real estate opportunities on a 3-5 year horizon.

I graduated a few years ago with an elementary school teaching degree and without a prospective job on the horizon, I have settled in a less than desirable job.

If your time horizon is 10+ years, wouldn't the rent growth in your expensive market more than make up for the no rent growth markets after those years?

I would carefully consider your strategy and investment time horizon. Ive

A lot really depends on your time horizon and access to debt capital.