They avoid getting into a hot market because they are waiting for the "crash" only to miss out on double digit gains.

Depending on the exact location is the said property, some markets are seeing as high as double digit appreciation rate thus selling might be the most financial benefiting play.

Both are generating consistent double digit returns (10-12%) paid out quarterly.

.^^^ The buyer (reported to me to be from Germany), who signed a digital closing but what not at the closing with the title company - one line he was suppose to sign was blank -- this at the title company.  

That being said, I can't recall ever seeing a true double-digit residential "as-is" property (with accurate capex and maintenance calculations) that I would buy and hold for 10-30 years.

@Maurice BlackledgeI know you're looking for rentals specifically , but take into consideration mobile home investing (specifically called Lonnie deals) for double digits returns and usually better cash flow than rentals .

I will be the 1st one to tell you I am not living off of the money I make from the cash flow on my personal rental portfolio (200+ rentals) I am living off of the money that is generated from the $50M+ in annual volume of our Sales, Property Management, Insurance, Title & Digital Media businesses.

I sold it at a $58,000 loss and in total, was in a $200,000 hole.I sold off all of my prized possessions, including over $15K in camera gear that I really cherished.  

I do think your estimate of return potential of 7-10% CoC is low; there are many markets where double digit returns are achieved with high quality units and tenants. 

  Branches from a tree are on town property in our area and you can't put a camera in a water line.