It is simple math that the market with the higher rent appreciation rate will always eventually produce better cash flow than the market with a lower rent appreciation rate.The eviction and missed payment rate in San Diego is one of the lowest in the nation. 

Everyone of our San Diego properties has appreciated at least $1k/month over the hold period (the best has appreciated over $4K a month for 21 years - do the math if you want). 

There is a lot of math to pay attention to, but especially pay attention to the DSCR number.

Usually don't sell by cap rates for small multis but lets use it to give you an idea of what I mean: Saving $5000 a year at a 10 Cap (lazy math) should add 50,000 to the value.

I’m keeping an eye on the math to decide if I want to keep it as a rental property, or sell it in the next year or so and invest elsewhere...

Thanks, @todd rasmussen and @Joe Villeneuve, I'm a little embarrassed that I didn't see that for the simplistic math problem that it is (hhmmm I wonder how many other KPIs I've been doing that with;)) thanks again, happy holidays to you both 

The key is finding banks that service their loans and not sell them on the secondary market. 

I'm not looking for anyone who sells to the secondary market (FNMA, Freddie etc...).Located in IL

Unfortunately, since these aren't institutionally originated notes, there is a small secondary market to sell these into. 

I was hoping to do a sellers carry for the down payment: So it would look like 75% mortgage, 10% down from me, and 15% from the owner (which would be a secondary loan).