Alabama Rental Market

[Patrick J.]

I am really curious about the Alabama market. In particular, why do renters rent for $800/month in Birmingham or Montgomery when they could get a mortgage for $200/month??

Also, why is there no appreciation in those markets?? Everyone always says you can expect "3%" appreciation per year as if that's true around the entire country but then you have places like Alabama with zero appreciation.

What are investor strategies investing in those parts of Alabama?? What kind of cash on cash return are you getting? Do you buy cash or finance? How many years before you recoupe your intial investment? Thanks (: