Rental market cycles relative to the general market

[Erik Sherburne]

For those seasoned long term buy and hold investors out there what have you seen with rent cycles? For now they keep going up but those too will change or at least not at this pace. When I analyze deals I always challenge it against the lowest rental rate in the area for a similar but less desirable property. If I still cash flow ($100+/month) then I feel good about it sustaining long term. (I realize there are a string of caveats but). just in general will there be a "correction" in rental rates? Down 20%?!? More?!? Less?!?