cash flowing markets

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so I'm from La and looking to get started Ive posted before I'm interested in jumping into cash flowing markets most probably out of state. (Ive been made aware that investing out of state may not be recommended and cash flowing markets come with a rougher demographic, anyway...) My understanding is that, in these markets its cheaper to own than to rent, now if my understanding is correct I'm left wondering why would a person rent when they can own? does this create higher vacancies as there will be less a demand for rentals?(vacancy is one of my newbie fears)

Thanks in advance