this is a website called roof stephen stock, and it's the brain bhield of a real estate expert, gary beesly who founded company. gary has long experience in real estate including hotel the. florida, tennessee, texas, because they're unexpensive. what might you choose those markets? >> first of all we're trying to go to markets where people want to live. we look at economics of these places that is having rental demand. we look at places that have reasons for people to be there. and the returns, the rental yields quite good in the affordable housing market. zblauf high demand in a low house price. you already got that research? >> you mentioned the income typically covers your expenses and a little more. often it's a lot more. the unlefrd yields are 5% or 6% or more unleveraged. it's attractive. it's also quite stable. >> how stable a market is this? how many people can afford to this? >> there's about 16 million rental homes in the united states, $3 trillion of assets. a tenth of the housing stephen stock is rental homes. >> what percentage of those are owned by somebody outside the state?