Are there any markets with both appreciation potential and good cashflow?

[Jack Gray]

As near as I can tell, the general trend for the past few decades is for locations in the Midwest and South to have better cashflow but poorer appreciation potential than coastal locations.  

Are there any places in the U.S. that defy this rule, with consistent job and population growth, rising prices, and solid cashflow for rental properties?  

I can find great 10% cap rate properties in markets all over the country in bad neighborhoods, but does anyone know where  A-quality multifamily properties (duplexes, etc) can be found that beat the 1% rule?  

If you do, please post here or PM me.