Property tax rate for big apple is effectively .88% and or the result of 100 years of NYC developers influence. 

If you have substantial equity, you should ask yourself if it's better to have the tax free cash in hand or risk selling it to the tenants who may never qualify for a loan (assuming you want to balloon any O.F. note.)

I do acknowledge that cap rates move, and those movements are typically in line with interest rates, which also influence demand.If you are talking smaller multi-family, the appreciation is more driven by interest rates, just like single family properties.  

Both avenues require a substantial amount of work, both require time and effort, both require a set of skills (different for both), but with rental properties, one can expect a steady flow of income (hopefully), every month, on the same day, with minimal work.

Southern Arizona is on the rise and the real estate market will see substantial changes!

Potential for accelerated depreciation through cost segregationThere are disadvantages, the main one being that they are long plays that take more time for substantial payouts.

But adding a additional bed and bath would increase the house price substantially.

You could get started on those.I would also definitely check : think and grow rich, how to win friends and influence people, i mean there are tons of book out there.

Craig were the repairs substantial?

Many of the platforms give the end investors little to no visibility or influence on the operational side of the deal.