If you ask anyone in this business, note servicing is the Achilles heel and it is extremely difficult starting one from scratch. 

This is all indications of a super sensitive earnings, extremely sticky projected inflation, and the bond market being way in front of the Fed. 

For instance, someone making $500k a year and living in a very highly appreciating market might be extremely happy on a deal that loses $200 a month but is getting 5% appreciation on a 2 million dollar property in San Diego, butut that doesn't make sense for the investor with 30k and a lower paying job.When it comes to the book series I agree with you that the order doesn't make sense (having read both).

I'm just suggesting you be well informed:I loved reading Robert Kiyosaki's "Rich Dad Poor Dad"... it was extremely informative and eye opening... albeit told in a bit of a crazy way.  

Investors should therefore exercise significant care when choosing their Qualified Intermediary because of the critical role the company will play in the administration of their 1031 Exchange transaction.It is extremely important to note that 1031 Exchange Qualified Intermediaries are generally not required to be licensed, regulated, audited or otherwise monitored by any regulatory body.

Sure you could do a money market or put it in an ETF or something, but this is one of the options where the balance "can't" go down or is extremely low risk while making a decent yield.

For example, if you have no experience in land development - that is extremely complex and risky compared to owning NNN rentals. 

When it rains or hails a metal roof that's is open to the living area is extremely loud.

That said, even with photos, comping homes in Detroit proper is extremely difficult.

They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.