You average over 2 years if fluctuating.  

Some get myopic on the issue of debt and fail to realize that economic growth is via debt - - Everyone's heard of the Stock Market, but a large majority only see the speculative aspect and don't realize that the face PAR VALUE goes directly to the company who issued the certificate.Class B stock has real equity in the company, whereas Class A does not and can be wiped out by market fluctuations.

We can only guess where the market will be this time next year, but if I acquire roughly the same amount of property each year, the ups and downs will smooth out, the great deals in a down market will help carry the less spectacular deals in an up market and if i'm cash flowing on all properties at purchase I shouldn't have too many issues since rents don't fluctuate nearly as much as home values.This is the one area where I get a little "paralysis by analysis" wondering if we are in an up or down market today (my newbie opinion is we are somewhere in the middle).  

There will always be pricing fluctuations.

I say potentially, because the market fluctuations may offset that 0.5 point.  

Ultimately, you want to know the average rate, average occupied notes, and the fluctuation..

I live in a rural area where there is a great deal of fluctuation in housing prices.  

You will average a better return but it will cause fluctuation in cash flow and will be less of a passive investment.

Actual collected rents can fluctuate - some months are more desirable for vacationing than others.

From the turnkey properties I own I these areas, it seemed to me that there was less HML competition and these areas don't seem to fluctuate in prices as much as the west coast during market crashes.