Like @Sarah Miller and @Marcy Albrecht said, you can buy places within the city limits but it's still about location. with that said, i'm always looking out for my end game. one of the issues with buying in certain parts of canton is that when you decide you're done, you may not be able to unload your properties.

Also keep in mind, terms other than price will play a role in getting you offer accepted too.

I love the Smokies as a long-term play.

And virtually all of them had owned rentals and maybe kept a few but were just tired on the TTT but wanted monthly cash flow . so there probably is some of that at play as well Investors that dont want to deal with the PM aspect of owning RE..

The rooms are unfurnished and the tenants are very low-maintenance (hardly know they are there). 2+Unit Buildings here and nearby currently sell for $1.5M on average.I bought the property 16 years ago, so my mortgage rate is very low (2.2%) Even though the property is cashflow positive, my bigger play is the average 5% yearly appreciation.I'm looking for others who are interested in house-hacking in this neighborhood. 

It's a numbers game. 

That’s where details come into play.

There is not a lot of data for MTR comps so I look on FF to see how many MTRs are in my area and what the rate is, and I play around with AirBnb to see what  a monthly stay would cost.

Cities don't play fair when they decide to go after you.One thing I would also suggest you do is look on AirBnB for the specific building you want to buy in. 

I never had that come into effect on my single family home purchases since I never wanted to personally be on the hook for such a high mortgage, but I think it might come into play for an MFH.