What value did the private investor get that was better than throwing it in the S and P index?

For example, Rochester might be more interesting for B class properties given the type of employment and house price index growth.

@Moustafa Ahmed - Great ideas, I love the idea of creating an index geographically of good vs. bad areas to invest in based on data.

I'm basically making 33% on my money, whereas I could get that in an index fund with less hassle and no effort. 

Then, everything over that I throw into stocks/index funds/ETFs.

Of course the cap should be indexed for inflation. 10 or 20 years from now a 10million cap may not seem like much. 

The caveat about investing right now is that that current prices really, really high compared to historic values (look at the inflation-adjusted Case-Schiller index).  

If so, I'm pretty sure every county in Illinois has assigned property tax PIN or index numbers to each property.Therefore the agent selling the property should provide you those property ID PIN numbers.If the listing agent will not give you those tax ID numbers, that would be a red flag.With those tax ID numbers, you should be able to get a copy of the actual property tax bills and the breakdown for the assessed value of the property.and google specify $5kHow can Google specify the taxes as 5K?

Then we'd probably toss the money into index funds, which would have far far far outpaced the rental income the trust has received.  

Lessons learned: - Negotiate more based on repairs if they come up on an inspection report, especially if its structured to be paid out of pocket after closing (as this lowers my Cash on cash return significantly)- Minimum cash on cash return I should be going for is 15%, 7% (Cash on cash return)-10% (cash on cash + principal pay-down) is a rate I can easily achieve through boring index funds on the stock market and likely not worth my time and much more of a liquid investment.Challenges:- House had a weird layout that made it a 2 bd/1 ba (utilizing a enclosed sun room as the second bedroom), which gives me some worry about future rents.- Communication between the PM & the existing tenant was not great during the purchase process (had to reschedule the inspection three times), however communication between myself and the PM after closing has been okay.- Scheduling repairs after closing has been tough as a result of the holidays & general lack of labor.Rough estimate of numbers (assuming 5% vacancy, $780/yr in repairs/maintenance, 10% PM fee, $480/yr insurance, $1227/yr property taxes):Current:Expected based on Rental increase to $670 (assuming tenant accepts increase, rental increase would be starting 02/01/2022):Expected if tenant decides to move due to Rent increase (PM company estimates it to be possible to rent at $725-750/mo; keep in mind this doesn't factor in costs to make rent-ready (if any), as well as the cost of getting a new tenant):