As you have many more eggs in one basket, and the capital requirements are through the roof, an investor deploying this strategy will make much lower cash flow and return on investment, but possibly a much larger capital gain.It's not wrong to focus on any of these strategies, but know that you likely shouldn't combine elements.

Although @Bill Gulley is in the bread basket.. but usually us WEst coast folks are in the appreciation camp and most mid westerners are in the cash flow.. because cash flow here on the west coast is not that exciting generally and appreciation does not happen in the mid west generally.However the statement by @David Dachtera  about appreciation is gambling I don't by that one bit.. you don't have to be a rocket scientist to explore the US markets and see where markets may move. let me give you a couple1.

Last time I was a tenant our landlord gave everyone a small flower basket.

If you are an inexperienced investor that wants passive cashflow with a Real Estate investment, by a diversified basket of REITs and be done with it ... otherwise, invest local and hands on until you learn the ins and outs, then parlay that experience out of state if you want.

We will use tongue and groove cedar for the soffits to add a nice color contrast to the darker siding.I decided to do a basket weave pattern for our front porch to add some flair (not TGIF flair, but close).  

You can't make anything more of it than it is.In your bundle of sticks, you have different types of conveyances, an easement is not a lease and does not carry the same rights as a lease, with quiet enjoyment or being entitled to the fruits of the land, so your comparison is also flawed. 

Their mistake was that they grouped all tenant pools together into one basket and made their "prediction".

This means you run your property well and keep them in good condition4) Most lawyers are lazy and go after the low-hanging fruit. 

I have found it gets a bit easier to remember, once you start realizing the fruits of your labor. 

Recently we've thought of offering move-in baskets at one of our complexes (think tide, dawn, toilet paper, paper towel roll etc).