So I can handle those ebbs and flows along the way because of my time horizon. 

And they are almost exclusively short-term loans, so they absorb less market risk than longer-term loans and equity investments into longer-horizon investments. 

But for those planning with a time horizon of 15-20+ years, I hope they are planning to retire much wealthier than that.

Realized that I made a home run and kept that property for 15 years or so until my horizons broadened to bigger things.

I'd be happy to reduce cash-flow in exchange for a steady payment over a long time horizon of 5+ years.It can also cut out management, both first hand management and 3rd party management.Maybe I'm just fantasizing.

Make sure your time horizons and return expectations align. 

Buy a home in the Bay area now and convert to rental property down the road (once moving out of state) could make sense, however this again requires a longer time horizon as well as dealing with the headaches of being an "out-of-state" investor3.

I am broadening my horizon to look in other market.  

I've been debating quite a bit but eventually came full circle and thought it'd still be a good idea, since I believe it has solid long term appreciation potential (5 to 20 year horizon).

These towns look good to me if you have a long enough horizon.