It's up a sliver over past few years but wow, trending sideways for most part and way below historical norms. 

The entire strategy is focused more on the forced appreciation and leverage than the general appreciation, which historically isn't as great as B and A class neighborhoods. 

#1 Produces more cash flow than #2, but #2 will very likely outperform #1 as a long term investment if historical appreciation remains relatively consistent.

You can advertise historic performance.  

This caused a historically unique opportunity for investors - they could buy Class A properties and immediately cashflow when renting them out.This couldn't last forever, and it didn't, as excited new investors drove up prices.

Historically I think a stock market bear lasts around a year on average?

When we screen properties, we're using the historicals of AirDNA but only those that are true like kind (takes more efforts yes but takes out the risk) and hten we'll also look at the future (by going into Airbnb, VRBO, etc.) to look at like kind properties and neigbhrod to weigh their nightly rate, future occupancy and whether they are operators (lots of reviews and playing the game at a high level on their listing)  or mom and pops (less than 10 reviews and an overall bad listing and management).

My market has historically out performed virtually all other markets.

This caused a historically unique opportunity for investors - they could buy Class A properties and immediately cashflow when renting them out.This couldn't last forever, and it didn't, as excited new investors drove up prices.

Homes historically go up in value 4%/year.