I will begin by examining operating costs.Operating CostsBelow is a comparison of income taxes, insurance, and property taxes for Ohio and Florida, along with Nevada as a reference point.Sources:State average insurance costState average property taxState Income TaxTo put this in perspective, below is the annual overhead cost for a $400,000 property.To achieve the same net cash flow, a property in Columbus would have to generate almost $5,000 ($8447 - $3544) more in annual rent than one in Las Vegas due to higher operating costs.Rent ControlRent control can prevent you from increasing your rent to keep pace with inflation, limit your ability to select the best tenant, or remove a non-performing tenant cost-effectively and expeditiously.

If this is a 1-4 unit residential loan, most appraisers and lenders are going to use the sales comparison approach.

It's not a fair apples to apples comparison. 

And for a really fun contrast and comparison, the condos and single families there in San Fran can equal a fairly large midwest apartment complex!

Then you can do a full comparison. 

By comparison, liquidation of these properties today would yield a slight loss.

This sounds good, but as I will illustrate later in this blog, it pales in comparison to real estate.Details: The stock market is known for its volatility.

Easy comparison, 2 to 5 years of investing intentionally for cash flow and be free of W2 OR 20 to 30 years of investing for appreciation while working W2?

My dilemma is, it is a 1 year lease, the tenant pays relatively on time, but high maintenance orders in comparison to the others. 

In comparison to many of the U.S.A. markets - especially along the rust belt - that's not a high return and 15%+ is obtainable.BTW:  The house will not always be fully occupied and you will also have bad debts and evictions, so unless you know the area vacancy rates well, better to be conservative.As for your PM costs, I've never encountered a PM fee below 7% unless you are dealing with a large portfolio.