Then again with how great our economy is doing, I imagine now is a good time to try to break into just about any field in real estate.Good luck!

Comparing the information, you're around a -2% population growth, -0.22% job growth and a home vacancy of 10%.http://www.city-data.com/city/Plymouth-Michigan.ht...http://www.semcog.org/data-and-maps/community-prof...http://www.bestplaces.net/economy/city/michigan/pl...Now, even though Plymouth looks to be fairly stagnant, I'm assuming you know the surrounding areas and can see if people who live there commute elsewhere to jobs and if land surrounding or within the city limits can even be developed for potential housing or business growth. 

You wouldn't make a ton of cash-flow but if the economy stays good (which is what you're betting on right?)

Achieving economies of scale may best be attained through volume, but learning how to do it on a small scale will pay generous dividends later; pitching the concept to investors will be much easier when you can show concrete results, and extrapolate from those results instead of being forced to rely solely on projections from a concept.

People who were previously financially stable can become unstable if the economy sucks and they can no longer find a job. 

The value of the land is to be consider, but also, what's driving in the economy and does that industry or industries have promising out looks.  

The city has cleaned up with a partnership with the University of Notre Dame, and if you check the economy section of the paper here, you'll find over 700 Million dollars has been flooded into development of this area.

Smaller parks screw up your expense ratios since you don't get the same economy of scale as you would a larger park, so that really hurts you on fixed price expenses like that.

Many of my tenants jobs are in local government and schools so those jobs are going nowhere irregardless of the economy.

Those cities have an economy of their own.