Simply put, there's so much difference economically wise, politically wise (depending on states), financially wise and ease to operate, even remotely. 

That being said $500 per month in economic vacancy quickly adds up ($6,000 per year).

Currently, as of last week, T8 is sitting at $16,500, this is after all CapEx and economic losses.

While the country has been doing pretty well for itself, writing that its capital city is another Hong Kong or Singapore makes no sense for anybody who has any understanding of international economics.

Analyze local market trends, rental demand, and economic indicators to pinpoint growth potential, and reach out to local investors / RE professionals in your area.

Hi Jagger-Great question.I am a fellow Michigander from Ann Arbor.Nothing against Maine but the Midwest has seen some of the strongest rent growth in the country.When I consult with my clients, if they don't have the budget for a market like Ann Arbor, I direct them to Lansing, MI.The cashflow is strong, the economy is stable, it is the State capital so there is always economic development creating new jobs, the price point is relatively affordable because the cost of living is lower there, and appreciation is predictably linear.I also advise investors to buy duplexes and up so you always have a rent check coming in most of the time if you have a vacancy.

Cities and regions experiencing economic expansion tend to attract more renters and offer better long-term investment potential.

Economics will play out - the more desirable, the higher overall revenue. 

As a note, a 5-10 unit project would not be economical under the HUD 221d4 program. 

The appealing aspect here is the ongoing population growth and other economic factors.