I mainly do it for paid off properties as a mortgage is already one level of protection.

But is it a totally different beast?

Or is there a different system I should implement?

I have worked with Zach Lemaster & RentToRetirement for years now, and purchased multiple properties through him in different markets! 

If they are spread out, could be a different story. 

There's many different marketshare that are available here, but it all depends on the location and what you want to deal with.

(One example is episode 534) We can afford to pay the difference to hold onto the property for appreciation but it seems like maybe there is better ways to use our money so that it both cash flows and appreciates. 

I may be able to negotiate things differently.

Personally, I am not sure of the economic upside given their main attraction is their university, but the rents and price per property seem to be keeping up with market conditions. 

Let's assume the property has $313,000 in NOIValued at 6.26 M 5% cap loan $4,695,000P+I annual= $413,400> NOI5.216M 6% cap loan $3,912,000P+I annual= 344,460 > NOI4.47M 7% cap loan $3,352,500P+I annual= $294,708 <NOI cash flow + If your main focus is cash flow you'll want to focus on the markets that have it right now where rates are at.