Unfortunately, like most things, if your first foray into anything new goes poorly, you are likely to label everything about that thing as bad.But back to your REIT comments: while I do acknowledge both the strengths (generally more robust companies, highly liquid, lower risk investments and overall structure), there are some trade-offs.  

In San Diego I believe rents can only be raised by 10% per year (or 5% + local rate of inflation, whichever is lower)The idea of evicting a long-time tenant is awful, but I realize being a landlord involves difficult decisions and the real estate business is a business.Thank you for your thoughts!

Why would you think the higher cap rate market is better when the market is actually paying MORE in the lower cap rate markets?

I am working on a deal in the area now, and I noticed the appraisal came in lower than expected, and the rents came in a lot lower than expected.

Duplexes are an option, but consider the lower number of tenants and potentially higher relative management costs.3.

And after you would lower the rent , whats stopping the same people moving back in ?

Do I keep waiting for the tide to turn or get in the market with 'lower' return but just GET IN as they say. 

You would annotate the transaction as such on the LLC's books. 

I close a “subject  to” transaction in July 2023.

This is problematic for investors here in OH specifically because of our lower cost of entry.