I have zero fear of numbers, equations, and spreadsheets. 

Emotional usually equates to crazy.If you can work with them fine otherwise stay out of it.

Purchases with rent:value ratios of ~.65% or better and cap rates from 4.5-7% in the SD market tend to equate to fantastic long term investments.The LA market will almost certainly have slightly different figures, but I would have to imagine they are much closer to those  than the suggested national rules of thumb. 

If I can get numbers to $50/door ($600/month), that will equate to a 15% cash on cash return.

For a first time investor, there is more to the equation that ROI.

If you still have US real estate assets when you pass away your heirs will still benefit from the stepped up basis regardless of their residence so that shouldn't really factor into the equation.  

I want to get into a system where I train the tenants to understand that increases are apart of the equation.

Regular ROI typically also leaves appreciation out of the equation until you sell the property.

James:Yes, I'm sure area and rents will figure into the equation as well ... and bad spots in Detroit may be a little tougher than our bad spots.   

I've heard Ramsey bash guys on one side of this equation and other equally-successful guys bash his thinking as if it's got to be one way or the other.