For individual units, the cap rate isn't too bad at around 2-5%, especially considering the appreciation, but I feel like I have money stuffed under the mattress with the large amounts of equity I have built up in them.My end game is to leave Beijing and move to the SW U.S. when I retire from my current career within the next 5 years. 

Other than to seek true professional guidance and proceed accordingly.

I don't think anyone has mentioned, but you need to make sure you are in the game for the long run.

I started part time and did so for a number of years, and never truly allowed myself to "expand" beyond what I knew I could handle, which is fine, but the true growth and learning comes when you decide to jump full time.  

Brian, I reckon your "skin in the game" should really be the deposit you've saved (over the last 9+ years) to directly buy property that you want to invest in!

Which honestly is great to know and great to have in your arsenal of tactics but not 100% my game. 

Hit me up if I can help or if you have any questions.If foreclosure auctions are your game, then go to every single one.

Anna Runkle I like that you have thought about the Pros & Cons but it sounds to me like you may be trying to “force” a purchase to get in the game.

Sagar some do a cash out refinance after they 1031 exchange into another property.It's all a shell game until the end anyways when your heirs get the stepped up basis.

They said their current landlord gave them a stellar review - and my property manager admitted that maybe they just wanted to get rid of them, which is entirely true.