Properties are generally much cheaper relative to the rent they pull in, than in NY.3) Lower fixed costs - lower real estate taxes for starters relative to your rent roll, etc.4) Lower variable costs - labor is A LOT cheaper here.  5) Less stringent code enforcement.6) Less maintenance - milder weather, and younger average age of homes make for less maintenance.   7) Diversification - low entry price to buy property allows and investor to manage risk by buying properties in different neighborhoods instead of putting more eggs in one basket.In additional to the benefits I listed above the city is growing so fast that homes rent very quickly, often times before the sale of the home.  

On that site are investors investing in a security in the company that holds the notes, or are they investing in the note itself (I realize is also a security, but I am trying to ask if they own the note or hold a fictionalized interest)Also I am curious what metric you are using to measure liquidity.

Alps how are you measuring your return.

They charge $99 for a measure.

Cap rate measures market value of NOI.  

It is also measured by a landlords perceived responsibility to our industry. 

I just saw this article on Yahoo regarding where rents are rising the fastest and thought I'd share:http://finance.yahoo.com/news/cities-where-rent-ri...I agree with the article that it isn't really a great measurement of what is really happening in an area because it is a small sampling, but might help answer some of the questions posted here along the lines of, "What city is best to invest in?" 

Pacolet Pointe contains an ideal unit mix comprised of 8 one-bedroom units measuring 616 square feet each, 4 one-bedroom units measuring 588 square feet, 16 two-bedroom units spanning 777 square feet each, and 8 three-bedroom units encompassing 936 square feet each.

What are different ways to measure this?

I have only one property that has not had my initial investment pulled out.If you want initial cash flow, So Cal may not be the place to invest but its measured returns have surpassed virtually everywhere else in the US (so claiming somewhere with sub $200K properties has had higher returns than So Cal is not based on facts).