Don't get emotional on the physical presence, but do manage your expectations from the numbers.

One isn't better than the other, there are pros and cons to both.I like real estate because it's a physical asset and I like the market because of its' liquidity!

For the average landlord, make sure there is adequate cash flow to weather the storms -financial and physical.

I'm very hands on and would rather be able to physically see the property and keep an eye on things without relying on other people or taking time and money to fly out of state. 

California's own nexus rules regarding physical presence could easily be used against them in this case.

Market value is meaningless when the bulk of the return will come from cash flow and when the resale of the asset will be to another investor who will be holding for cash flow.I have a feeling Ben will agree with both of these statements above (correct me if I'm wrong, Ben)...So, Bob, if you're going to argue that cap rate isn't a good measure of return for one particular type of cash flowing asset (in this case, single family rentals), you're going to have to justify it better than just cutting and pasting someone else's ideas.Please tell us why you (not others) think cap rate is suitable for analyzing/comparing the return of all other cash flowing assets, but automatically breaks down for single family cash flowing assets (or if you think it breaks down for other types of cash flowing assets, please tell what other ones it's not appropriate for).To say that a mathematical model breaks down based on the physical configuration of the underlying asset (one unit versus many units) doesn't ring true for me.

Physically check in with them.

My Columbus agent physically checked on the property, spoke with few tenants, will be getting officially appraised and inspected.

REI with poor reserves should prioritize cash flow.good luckFor those without significant reserves, they shouldn't participate in physical asset speculation.

Doesn't matter if they had a key and didn't physically break into the place.