Dr Mom, Our neighbor bought another house in a higher class neighborhood with higher home prices, because their home in our area was too small for their growing family. They recently completed some renovations on this home, and rented to a young couple within a month of their move to their "new" home.
For some "magical" reasons, the home prices in our ZIP code has held their value quite well; as a matter of fact, the last report shows home prices increased 0 -20% year over year, but the number of homes sold dropped by over 30%.
We used to own income property, but I sold when I retired, because I did not wish to "manage" anything in my (early) retirement. It was a very good investment, but it did take work to keep it occupied with good tenants, keep it maintained, and collect the monthly rent. When I sold it, the price was double what we paid for it.