Then the turnkey operator sells the property at the market value to the investor who pays market price of around $200,000.

The high appreciation market will be the higher cash flow market over the hold.  

To keep her expenses down.My plan is to rent the duplex out agian with new tenants and cash flow for about a year or two until I see the market become a seller market.

Goal would be to acquire 20 rentals by the age of retirement, with some already starting to be paid off.I am in the same boat as you, and I focus on safe appreciation all day (small cash flow for safety and then focused on markets on that appreciate). 

@Ella Marie, I can't speak on behalf of your market, but in my respective market, competition is tough, and the successful fix-and-flip vendors are often full-time operating businesses.

I've finally made the decision to get into the market to Build to Rent.

I recommend you discuss and plan this in depth with a local lender who knows your market well. 

Alas, this scenario didn't last very long, as you would expect in a free market capitalist society -- new money flood in, more STRs in supply, property prices increase, STR incomes decrease, until a new equilibrium is achieved.Nowadays, the word STR is being used to describe both the property and the business.

@Marc Anthony MacielIf you're diving into house hacking and multifamily investing in Southern California, you’ll want to focus on markets like Riverside, San Bernardino, Ontario, and Long Beach—areas with strong rental demand and solid appreciation potential.

But for the best local advice, make local connections in the market with Host groups and Rental Associations.