If you don't believe it, go to the BP calculator and run a million dollar property with 10k rent and 3% appreciation and see what happens after 30 years.

If you don't plan on selling for awhile, then a new home is a great way to go.

Does it make sense to cheap out over the few thousand dollars it will cost to go through a proper escrow and title process?

I will have POA and will conduct a 80% cash out refi, which the loan proceeds will then be paid to the seller and the title would then finally be transferred to me. 

@Shaheen Ahmed maybe look at this in a different way - where are you going to invest where property taxes are NOT an issue?

Care to share?

(Some have argued that the actions of the Obama administration were illegal taking.)The main problem with having it controlled by the government is that it has been, and will continue to be used for political purposes, right or left, depending on the administration.I'd rather see it outside government control.

During the summer months there are a few events, functions and festival type activities going on so you get a few bookings around that.

The new property has to make $50k plus $12k/yr more than the existing property just to break even.

We have tried multiple local collection agencies, and we have not received a penny for over a hundred thousand dollars of bad debt submitted to them.We keep hearing, "It takes time" but it's been well over a year with the most recent one.