Value is a function of the income the property produces.  

You want to make sure as a long-term hold it will produce 5%+ CoC return, and once you finish renovating & stabilizing the property, it will be worth at least 15% more than you bought it for.

Also consider the mix of assets in that is one producing good cashflow and another appreciating above average. 

Yes, they are projections as they are new, but the amount of due diligence and research that goes into those is so we can produce positive results for our clients.  

@John MichaelsThese are markets that have higher cap rates, lower pricing, and produce more cash flow.

STR's are the most management intensive way to produce cash flow on a property and Tokyo is 9 hours ahead. 

If by the time of retirement I have 10-15 income producing properties on top of my 401K I would be very happy.

Let’s also look at income, not just total wealth, since many folks, especially hourly workers, in the bottom 50 unfortunately, really can’t/don’t save much money or own income producing assets.

Don't listen to people who have never owned income producing RE.

So construction only lasts for 5 years, after that its just a refi every year which will produce an essentially tax free income of 100-120k per year.