Simplistically, if you had to redo your whole building (not at once) within a short time frame, you would get a 12.5% ROI in value alone off your capital investment.

Yes that is a very simplistic approach but when you start arguing as he did its too subjective to say I'm right your wrong, he didn't even ask where I got the 5% vacancy and 10k in expenses from.

In the most simplistic definition, a REIT is to a real estate property as a mutual fund is to a stock.

Obviously this is overly simplistic language but it gets the thought across.

I'm not in real estate full time in LA but I can't imagine there's a house or income property anywhere in LA that I can buy for $300,000 that will generate $3,900 in gross rent....I totally realize this is a simplistic approach and I have more vacancy and maintenance issues in Barstow...however, if you want to help me crunch numbers of long term value of the $300,000 in LA vs. the $300,000 in Barstow I'd be interested to see how that would play out...actually, as I write this out, I'm going to do a quick analysis also based on rents in LA of $2,000 per month for a $300,000 investment with rents going up 3% per year and appreciation of 5%...and compare to $300,000 in Barstow with rents going up 2% per year and appreciation of 2.5%...just for fun.

Might sounds simplistic but did he make any mention of what he might be looking for out of the properties ?

This may sound simplistic, but you need to get laser focused on exactly what you want so that you can then plan your marketing campaigns.2.

I’m also in talks with Simplist and OwnUp.

I look at it in a simplistic way. 

I doubt anyone is insisting that your plan is bad, but for a newbie, it does appear you are approaching it from a very simplistic aspect.