And on top of the great cash flow, i've personally seen double digit appreciation.

For example, a property with a homestead exemption in Florida is subject to a 3% cap in annual increases in assessed value (in a hot real estate market with double digit year over year gains, and/or on a property that has been homesteaded for a long time, this can result in major disparities between assessed value and taxable value). 

Same with points; it varies a ton by lender. 2-4 points with high single to low double digits is fairly common.

I have been reading my digital copy for the last couple of days (waiting for the hard copy) and it's great!

For billboards most use the digital led kind now.

In this scenario, amortization is going to bump your total current return to double digits ... and any rent inflation or market appreciation is gravy.The math works differently in these higher priced markets in ways that are unexpected if one's reference is a more typical market.

@Douglas Larson  Cool post... thanks for the ebook. 

Look at yourself in ten years and compare locking in historically low interest rates, purchasing an asset that traditionally and consistently appreciates over time, getting some landlord seasoning started for future borrowing, and getting some real life experience...or sitting on the sidelines waiting for the phantom double digit returns in Utah county.  

I wrote an ebook and several BP posts on this subject if you’d like to learn more.

I use Quantum Digital for small lists but their website is not exactly user friendly.