Limited appreciation, old housing stock in need of major capex, population decline in many markets...Can you pick a market that's a couple hours away so the price point is lower, but you can be in-person and hands-on?

That works fine for stocks - which aren't 'needy'... and maybe having a few properties that would be ok.  

Markets move in cycles, so someone who predicts a downturn will always be right - eventually.

long term rentals. or stocks. or groceries. 

Arent big institutional buyers companies on the stock market , which are owned by stockholders , who could be you or me ?

It is easy to predict ROI on adding a pool. 

Regarding how countries treat foreign investors I would say there are two points, 1) yes they need to not be too arduous on foreign investors, but what's more important is 2) that they are consistent and predictable instead of arbitrary. 

While I don't supply paper towels, each of the three bathrooms is stocked with three rolls of toilet paper.

Compared to the stock market, real estate investing offers better return on investment and lower risk.

Seems to me directing your custodian to invest in something like a piece of real estate isn't the same as telling them to buy X number shares of ABC stock.