Cleveland is lower risk, because the values are supported by the income, and because we do not have rapid appeciation.

I live and invest in Cedar Rapids, but am frequently up in the Cedar Falls area.

I own properties in Grand Rapids, and manage over 500 others.In regards to your "Top of Mind Concerns"  Winters can be hard here in Grand Rapids.  

If it's still growing, it's also possible that the area may gentrify and you'll see very rapid appreciation at a certain point.Disclaimer: I tend to invest in D neighborhoods, so I'm a bit biased.

Property at present is a 6-unit here in Grand Rapids.

My wife was stationed at Ellsworth AFB near rapid city , I would love to live in that Area .

In terms of the neighborhood, this is a rural area that's adjacent to a rapidly-growing suburb of Los Angeles.

hi amy. i am originally from michigan myself. grand rapids area. this house sounds like a decent deal, and if bank number one doesn't want to help, find another bank until you find one that will work with you. every bank has their limits on certain types of loans and on this one, the first bank may be maxed out, nothing to do with you or your credit or anything, its just where the bank stands within themselves. absolutely look for another bank. look until you find the one that will work. your own home is NOT an asset, it is a liability. when you buy a house to live in, you just bought a mortgage payment with interest, a phone bill, a gas bill, a tax bill, and maintenance costs. the only thing you can do with your own home is pull out your equity when you have some and use the money to buy another house that is an investment. i am not saying to not buy it, but use it to your advantage

I have seen quite an increase in rent prices in the Cedar Rapids area. 

Last crash ('08) was first noticed on the west coast and then spread rapidly to the east coast.