All depends on the market cycle and location though. 

How many cycles have you been through? 

It's a never ending cycle.

That $1.20 would be multiplied by the number of days in the collection cycle to determine the base amount per machine for the collection cycle.   

We also pump all our tanks on a four year cycle. 

The market has rallied 40% since its last 'fair valuation' in 2013 and so appreciation has been solid.Seems a good market to invest if price rally continues for several more years, though if COVID/subsequent effects lead to peak of cycle, may potentially see some correction.

And of course went full cycle on an abundance of deals.

Also none of the primary GPs have finished a full-cycle with their other syndication.Any advice for Newbie like us?

So something that looks great to one will look terrible to another and vice versa.I'm a conservative investor, and so I generally want to see full real estate cycle experience with little to no money lost, conservative leverage, high skin the game and sponsor splits that are fair and don't incentivize them to take increased risk with my money.

@Bao Do I see most CA based investors looking out of state at this point in the market cycle.