I'm looking at buy-and-hold investments and I plan to start slowly with cash, then expand through leverage as my comfort and functional knowledge grows.

They find a total average return of 9% for the period they looked at (1986 to 2014), and conclude:"Each component contributes approximately equally to the aggregate U.S. portfolio of housing returns, so excluding one component excludes half of total returns on average," There is also a helpful graph comparing the breakdown between the two factors in the 30 largest metro areas. 

The 5th largest economy on the planet made solar mandatory on new construction!

New construction means... no foundation problems, no structural issues, no functional obsolescence.

Property transfers are slowing down, home flips are inflating figures at unjustifiable amounts, and quite frankly, Phoenix is a place where when a recession hits, companies start cutting jobs in backoffice functions first, many that reside here in town. 

I think I will add that functionality to my web app - post to multiple facebook groups and also the new marketplace they have. 

I have a question about the search function.

@Brandon Silvia - the largest problem with conventional lenders is that they are not flexible at all.

Cap rates are a function of risk; just like any other investment as the returns increase, so does the associated risk.

Look at it as a $100 bill, the largest and most valued currency for US.