The income is a lot more stable, predictable and reliable, while the stock market is extremely volatile and unpredictable.

The units are in a desirable location, have a low and stable HOA fee and have rented easily following renovation.I have already improved the vacant units and rented them, removed the problem tenants and am quickly bringing the other units up to par and closer to market rents.Even with factoring in the cost of the property manager and allowing for a vacancy factor and a budget for repairs and future capital expenses, the property has a solid 8% CAP with the increased rents.I am hoping to do another 1031 exchange in the not so distant future from another out of state property into a bulk purchase in the Phoenix valley.Reading the BP posts and listening to the podcasts and webinars is giving me more inspiration.  

If comps suggest it's worth about $115k and the market is stable, you would typically buy it for $80k-$90k minus any repairs needed to bring it up to marketable condition.I don't focus on properties that need work so I have only 1 real life example of this type of deal.

They tend to have solid properties that need a little fixing up but have some value to create but the income stream is stable going in.I do not like properties where someone really failed and now wants to try and sell off a big problem for a premium price. 

So the quality of the buyers are much higher and in that sense the markets aren't the same and is much stronger and stable.

I've bought fruit, tamales, rugs, honey and all sorts of things out there and when she tags along... again, nothing.Regardless, there's an oversupply of land for sale which is going to keep vacant land relatively stable in value, but improved land is going up quite well.

I have a decent and stable job but as my first project I want to start off with something small and that's why I'm thinking of a town home instead of SFH.

As the reader will imagine, I can't show stable income. 

Very stable neighborhood in transition. 3 exits away from downtown.

A metro area can have a stable population but areas within the metro area may have a declining population or declining income.The major employers are in market segments which have proven to perform in the past and are very likely to perform well in the future.