On the commercial side, it's a similar story in terms of cap rates (they are fairly compressed, but like any general rule, not the only basis on which to evaluate a property) however this is offset by having NNN leases so increased gen-op costs are shifted to the tenants, and value-add opportunities as a way to "force" appreciation as well as generate additional income.  

Then the market started to shift late 70s and when I went to buy my first home in 79 Cupertino was already just north of 100k  I mean who could afford a home in Cupertino or 100k to 125k..

Shifting markets to Snohomish, Skagit and Whatcom county (I-5 Corridor) we got very specific and upped our price point and minimum cash flow requirements.

Not to say that you can't use appreciation, but I see far too many people hurting by counting on it.We are about to go through a huge shift in mortgage rate affordability, with rates sure to rise to over 10% in the next few years.

Some of the people seeing success today are just getting lucky, so one bad tenant and the tide shifts.

I have been thinking about shifting the two that I own outright under a LLC. 

Nearly all of our investment purchase products are shifting over to the Non QM space where we can do no income/tax return programs on investment properties however you will be paying a premium. 

I have one long-term rental and one short-term rental and am looking to shift into this full time over the next few years.

Our frustrations come from trying to fix and change all these things we do not control.Instead, shift your focus to the TWO THINGS in life you can control:Your attitude and your effort!

I would personally recommend shifting your strategy to sell your Ohio investment property and get yourself a property to house hack in LA.