This is fine in a level, static real estate market or a rising market (for a buyer).

Personally, I will generally just assume revenue, opex and appreciation are somewhat related to inflation. 

Leverage can be dangerous, particularly in a rising interest rate environment.

What happens when the tech pops, market corrects, dollar continues to rise, interest rates tick up.

(For reference ~ I invest heavily in Total Market Vanguard Funds, and I believe last year I was right under 13%)  Average safe withdrawal in retirement is roughly 4% (Adjusted for inflation).  

It's pretty common and between people who are supposedly smarter than us, like in the world of private equity and venture capital :P Lots of peeps with MBAs snapping up companies, inflating their value and hoping to hoodwink the next investment group, maybe not stupid and simply duplicitous, but it happens a lot and I guess it's the same principle.I guess it's incredibly common in Australia.

@Justin R. yes grandma has asked for higher income with the rising economy.

Having my Certified International Property Specialist credentials has given me the platform to rise above the norm.

This is for buy and hold and even though your money will most likely go up over the years due to inflation and demand, returns through rental income might not be the best choice.

There was high rise in Portland that they turned into an artists community.