Some states it may also be split.But to reiterate your talking apples and oranges

@Matthew PaulBesides farm the land yourself you could lease it to a farmer, maybe even lease a roadside stand for fruits & veggies.Another option would be to put it in hay and harvest the hay to sell

Defer your gratification just a little to have a plentiful harvest, rather than picking the fruit while it is still green.

Are apples stealing business from oranges?

I'm setting up a SDIRA with Kaaren Hall at uDirect.http://www.udirectira.com/For me, she's local, well known, and highly regarded among the real estate investors in Orange County.Do a search here on BP.

Apartment numbers can be quite different than numbers on SFR's.It is comparing apples to oranges in my opinion.Investing in a 100 unit apartment complex is an entirely different investment vehicle than investing in 100 SFR's and the ratios can certainly vary.

I know somebody that borrowed at 13% to buy an apartment building in Orange County in 1981 or so. 

I will let the others answer but it's important to clarify two things for you:First, when you click the Orange Button to get the cash flow analysis tool, you can change all the variables in blue to create your own scenarios.Second, the vacancy and maintenance variables default to a single systemwide value, so if we change it for one it changes it for all properties listed.  

Once you have found the specific item you want you simply click on it and then hit the orange button "Select from available items".

Larger landlords should have $30k in reserve.Lawyers who win big judgments against landlords (the kind that put your net worth at risk) are going to go after the low hanging fruit.