It will be a challenge to surpass the appraiser's value but it is possible.

And what about the Tampa Bay metro, for instance (hint, it surpasses both of them)?

different market has different parameters. in high appreciation market, cash flow will follow and it will surpass the so call high cash low appreciation market big time. cash flow and appreciation goes hand by hand. think about how many years rent doubles on the coast market vs linear market. at the end of the day cash flow is the king for long term buy and hold in any market. appreciation is another story.

That's why I considered just investing into a fund and letting it go but I realize the benefits of real estate investing can easily surpass the returns from other sources

The median home price is only $300-325k, and the previous peak in Aug 2006 was $375k and we'll most likely surpass that mark.Market is super ridiculous hot right now, multiple offers on every single listing.

So, we have surpassed 30 years of being in the rat race in 6 short years, since we first purchased a little investment Condo in May of 2011.  6 short years ago.  

I'm also proud to say we have completed one project full circle and recently sold it (almost 50 unit property) and significantly surpassed our proforma expectations and investor returns!  

I am currently seeking a sponsor (someone with net worth and liquidity surpassing the value of the apartment) and private investors as part of my syndication.  

In turn I will buy more props and maybe multi families to surpass my current mortgage exponentially.

Especially now that millennials are surpassing the baby-boomers in population ...