If you have a stable asset, predictable returns, and a lease structure that’s well-known and well-documented, a regular market valuation might make sense.

Current Financial Snapshot:• Savings: A solid mid-seven-figure amount currently invested in the stock market.• Primary residence: A 2-bed, 2.5-bath townhouse purchased in 2020 with a 2.75% interest rate.

Speaking from the Arizona perspective, we are experiencing continued growth, attracting lots of new residents (Californians choose Texas and Arizona as their top 2 places to move).Here's an economic forecast:https://www.azcentral.com/story/money/business/economy/2019/12/11/arizona-state-university-annual-economic-forecast-predicts-slower-growth/4398074002/Not sure where you are getting your "low rent" thoughts, maybe compared to CA.

Hey - it's better than the stock market.  

This WAS commented on (thankfully privately) when I stocked Aldi toilet paper.

I do see a ton of 2 unit houses on Zillow, so would it be a good bet that these are landlords trying to unload their stock before student housing regs kick in?

Plus, since they can cut and paint to size, shipping costs is less, and they stock way less material on hand.Imported treated pine lumber is astronomical since their pines trees were wiped out by the pine beetle and they also don't have a coating/impregnation process for the raw timber.

I'd probably forget to re-stock the "forgot" basket and then get a complaint on it.   

But I wouldn't be surprised to see us settle in the low 6.00% range.I have some aggressive bets in stocks and long duration bonds that will benefit if/when that happens.

The 1031 exchange is a federal tax code and is not state specifc so you can exchange in and out of any state and in and out of any real estate investment (no flips or stocks).