If you talk about the 4% yearly income, based on your investment as net profit, AND in NPV (Net Present Value)...maybe I can agree partially... But if you talk just simple as 4% income... => you're in loss, because of inflation (which is bigger than 4$)...I talk about the REAL inflation, not about the FED "math" ;)

I will tell you an example: here, in my city (it is almost the most expensive city in Romania) you can buy a block house of ~70 square meter for around 100k euro, and you can rent it for ~700 euro / month. This is also much more than 4% yearly income...but if we take in consideration the additional costs, a part of this income will evaporate (issues, government taxes, real estate agent, etc)...