Also, it is quite difficult to predict which markets will outperform others in the future.

I sold a home to an investor in April that’s right downtown and is already outperforming all of the rental projections we had done so I know that demand is still very strong.

But even an average agent will (on average) outperform a FSBO.I can honestly not recommend it.

The other option that I know you are familiar with would be to just turn it into a medium term rental which isn’t as lucrative, but still outperforms traditional long term rentals.

This could be a good way to diversify and spread the money between a few different strategies/target markets.There are funds like this everywhere that will probably outperform your own returns if you were to just jump in.

I have owned rentals in 14 states  and Vegas is NOT tenant friendly it totally favors landlords its one of the best in that regard. when I factor in all the cost of Ownership  VS rent I find I can buy a 300k SFR in Vegas that rents for 2200 dollars and it out performs almost anything i owned in the so called cash flow markets.. 

Over long periods of time (decade plus), it will out perform any other state.

You should out-perform that.I think a lot of people don't look at the state of a specific property close enough. 

As a LP, they made good on their pro-forma that you originally signed up for and probably out-performed that.  

The Self-Sufficiency test makes it pretty much impossible to get a desirable property with less than 10% down.Single Family REITS have also greatly outperformed multifamily in the last years and now institutional players are getting involved.