It is because zero appreciation OOS RE has not produced the same returns.Good luck  I shouldn’t even comment, because I’d rather have fewer investors interested in Alabama.

Deals are still out there to be had, but in my opinion the "recession proof" mentality is dangerous, and could potentially be construed as misleading one's investors. 

It's very enticing to have nicer properties that should have fewer maintenance issues , attract better tenants and possibly appreciate faster.

There is also a strong argument for “it depends” on the type of rental properties you own and what your current time commitments are.example: SFR should result in a “greater sense of ownership” from your tenant and fewer minor/recurring maintenance calls (in general), so being your own prop mgr should require less “day to day” time if you properly screen your tenants.For a different example: multi-family will have many more small maintenance calls that you (or your prop mgr) are required to address, so being your own prop mgr will take a lot more time.And most should agree, if you get a prop mgr, make sure he/she is a good one or you’ll lose money and won’t achieve any goals as a REI.

Here is a really interesting citylab piece on the nature of urban crime titled, There's No Such Thing as a Dangerous Neighborhood :https://www.citylab.com/perspe...

But if the goal is to get this thing up and running quickly so you feel secure in retirement I think you should consider looking at fewer larger properties to build your portfolio.

@Michael Plaks You can advocate your method, but I think it is a very dangerous and slippery slope. 1.

There are negatives and positives in any investment so yes in an appreciation standpoint you get less bang for your buck, but as you stated cash flow wise it amounts to more, be personally I believe in doing the mechanical leg work in the beginning so that there are fewer maintenance issues and the last part is choosing a good tenant that will take care of the place.Also, I am saying starting out and having these properties in the portfolio along with other vehicles of real estate.

You might be better off simply borrowing the money from them, as @Taylor L. mentioned.If this is a CA property, and in a few other states, you could have 10 or fewer investors loan through one first position fractionalized note.

In the construction industry there is nothing more dangerous than a "contractor" who can start the job tomorrow.