Much of the MF you'll find in other metros is significantly older housing stock, 1940s and earlier.  

At the end of the day, you should be getting pretty good principle paydown so it will depend on your goals.

Plus REITs track the stock market too closely.

At another level, choosing the stocks: the stocks are chosen from a small pool of stocks that pay dividends, are not very volatile, and companies with strong financial statements.

Problem is... they would have probably learned... but with plenty of stock to choose from, most won't even give it a try.What happened? 

The same as saying "those <whatever> stocks are too volatile, I'm going to invest all my money in treasury bonds".

Purchase Price: 380,000Gross monthly income: 2,700Utilities: Tenants PayProperty Taxes: 400 a monthInsurance: 160 a monthDownpayment- 20% (76,000)Closing Costs- 2,500The apartment is in a good location close to my principle residence, but do the numbers work well, or are they too low?

I have a subscription to Motley Fool which will help me identify those stocks.  

Biggest RE impact is large out-migration of hispanic families who occupy inexpensive housing stock.  

You will then be able to self-directe your retirement funds directly into physical real estate instead of the stock market.