你的例子只说明投资房地产的好处，没有说明投资者不可以是REITs

this is a very good example how to make money in real estate, it does not say if the investor has to be an individual or a company like REITs. we all know REITS are highly leveraged and have to pay out all cash flow earned as dividends by law. the interest expenses they pay are tax deductible too. Did I mention all three benefits you mentioned?

the question is how to find good ones, which have good management and lower administrative costs. that will be the same challenge to investing in real estate individually.

I believe there are a lot of research on total returns of investing in residential real estate vs REIT. the one research states that the average annual total returns were 11% for residential real estate and 22% for REITs for a five year period through march 07.

in a way investing directly in real estate or REITS is like investing in stocks or stock mutual funds. people argue a lot as to which one is better.