The end result is entirely dependant on the economy between now and the date you sell.

A reversal of the economy can easily see equity disappear and along with it the principal pay down "profit".I do not know who you are referring to when you state that "It's commonly accepted ......." but it is not the investors I associate with.

It would also be more beneficial for my family should I become seriously injured, ill or pass away.Over the years I have seen property values rise and fall with the economy.

@Copeland DuhonThere are a lot of posts on this subject, but I'll take a crack at a high level:Macro environment: rule of law, diversity of regional economy, positioning of regional economy, etcSupply and demand equation for properties, both on the sale transaction side, and on the rent side. 

Indianapolis was appealing due to low price to rent ratio, generally cheaper homes, lower property taxes, and a diverse economy.

People trade down when the economy worsens.

Yes lots of engineers, in fact that is practically the entire economy.

Although, Orlando's rental market is hot right now, we still have a pretty aggressive real estate retail economy and finding properties that cash flow $500+ a month can be challenging.  

Houston was horrible back then(skipping bush 1 recession since I made lot money on that one)2) the dot com recession was a boom busting from the failing IPO's, a ponzy pyramid scheme economy.   

I'm sure the same thing will happen again soon but hopefully be a bit less of a disruption to the economy and be a bit more spread out rather than concentrated failure.