No improvement 100k appreciation in 2 years!?! Booming area.

[Dillan Stoor]

I am located in southern Utah where we have been seeing a huge migration of homeowners from California as are other areas. I would like to start a discussion around areas seeing this big boom and the unreal appreciation of homes because of demand and the extra money outside buyers bring.  

What I am curious about is what other areas are seeing this and how has it affected the community and what were or are the end results?

As an example 6 years ago I bought my first investment home for 128k which was a little high for the condition of the home but it was what I could get worked out. 3 years ago it was appraised for a refi at 210k not a huge jump, but now in the past year and a half the appreciation has gone up roughly another 100k where houses are now so hard to come by you almost have to have 30k more than asking price and cash to close a deal. 

As an investor this is killing the cash flow for future potential investments and would love to hear from others what some options may be.