Investing in Tulsa, OK as Serious OOS Investor

[Jerry Peng]

I've been saving up some money since leaving college and now have enough capital to deploy in buying a SFH/Duplex property. I'm interested in Tulsa after analyzing rent to cost ratios based on zipcode/metro area. Of the top 10 markets, Tulsa was in the price range, had a low enough property tax and didn't have crazy tenant-friendly policies.

I'm looking for some help in hearing people's opinions on the following 3 things:

1. Why exactly is rent rising in Tulsa so much? Are the driving factors macro-economic trends such as fluctuations in the Energy sector, COVID-19, and lower income taxes or is it trends that are specific to Tulsa, such as major company opening up jobs in the area?

2. What are the types of costs that are unique to Tulsa? For example, I've heard wind associated costs on roof are important to factor in when looking at how old a roof is in Tulsa versus say in Arizona.

3. Why are people not buying houses at the same rate individuals are renting properties? Is it due to the types of jobs in Tulsa where it's hard to save for a down-payment, is Tulsa more of a transient city, before moving to a larger city like OKC or Dallas, or is it something else I'm completely missing?

Much thanks to anyone who can give me any information on any of the three above questions.

Just some background info, I'm not a speculative buyer and will likely be looking to find a home with minor cosmetic upgrades needed before it's make ready. Forced appreciation and steady cash flow is the name of my game.