Capital gains are the icing on the cake.

I still enjoy the words of another before I make an offer.The past inspections are just icing on the cake, if you can get them and speak to the inspector personally.

Icing on the cake would be if the asset value grew over the next 7 years as well.

Make sure your cash flow numbers are solid and take any appreciation as icing, a happy bonus. 

we like Vegas for So cal investors.. can drive there pretty easy.fun place to go.and instead of mid west 50 to 125 year old homes you can buy homes built in the 1990s and newer  Very easy to maintainno snow ice  no soil and water intrusion issues which are very common in Ohio.. some of the lowest property tax's in the US.And if you buy Solid B or A class your going to get professional to semi profession occupation tenants which is a world of difference between those and your 800 dollar mid west renter.

Appreciation should only be icing on the cake IMO.  

And yes, that was the icing on the cake as it appreciated about $280k. 

I've come across many real estate investors who get hysterical and paralyzed when they are trying to decide whether or not to increase rent for a tenant and the spout off some seriously crazy reasoning.Just about everyone has come across investments that were goldmines, tried to convince friends, family and investors with tons of money and those people who were looking for places to invest their money froze as cold and solid as dry ices, got nervous enough to get committed to an insane asylum and only said they could not make a decision whether or not to invest.I call analysis paralysis the inability to make a decision due to lack of experience, lack of the right information, lack of wisdom and lack of education regarding the subject.

Don't get ice makers or if you do let them know you don't repair ice makers.

@Kaylee WalterbachAfter a long year of sweat, tears, many long talks with God/The Universe/Blue Bell Ice Cream, I got my property appraised and was able to cancel my PMI.