Buy and Hold and the 1% rule?

[Ryan Jones]

I'm just curious about buying and holding properties while renting them out.  In most everywhere in the US, you cannot rent a property for at least 1% of the value.  In Denver, you can buy a $400k property and get no where near $4k/month in rent.  In Colorado Springs, you can get a $200k property and rent it for $1k/month.  

I find it like this most in the country until you get into lower income areas in Missouri and Florida.  Is anyone in Colorado using the buy and hold strategy to build wealth?