Advanced tax maneuvering at sale time can somewhat mitigate this effect thru allocations.

@ Cole A.From your description, it would make sense to allocate the rental portion to the owner portions on a time basis rather than a physical unit basis as is normally the case.

For example, evictions can be generally be accomplished in under 30 days at a cost under $500.00.We have lots of land to develop and grow, keeping the cost of development reasonable.Our water allocation is solid and deemed to be dependable with multiple sources.Arizona has a very low risk of natural disasters such as earthquakes etc.In the portfolio of properties I manage I currently have zero vacancies, April rents were paid in full by the 9th and May rents were paid in full on the 8th.

I allocated first to equities, and put large lump sums throughout the years.

My suggestion would be to develop workforce housing, purchase a property with an existing Section 8 contract or acquire an underperforming market rate property and work with an affordable housing consultant to reposition the property for a 4% LIHTC allocation.

The $1.2 trillion figure comes from including additional funding normally allocated each year for highways and other infrastructure projects.

Did these companies allocate their new capital in the most effecient manner (like by bolstering reserve funds to weather a black swan)?

While I think real estate is an *excellent* investment, you should probably consider what your desired allocations look like. 

I'd get rid of the consumer debt, then focus on increasing your allocation to equities and starting some fixed income.

I suggest you self manage but always have in mind and allocate the money to pay someone else.