*Bonus points to the long distance investors willing to share how you located those new markets and built teams there* 

If you invest for cash flow and view appreciation only as a possible added bonus there is zero reason to invest in any property that has break even or less cash flow.

Rather, I'm trying to maximize the new tax laws (bonus depreciation) to minimize my tax liabilities in the day job. 

Bonus learning experience: Always network with lenders.

Sure, it could transform an area and due to cost push low-income people out but I don't think that is very likely.There has been a lot of steam on this, it can work well in certain situations (been sitting on heavily appreciated stocks and want to diversify into RE) but these are primarily low-income areas and the holding periods are long. 

Then,  look at the "bank bonus section".

When I forecast notes I never expect a payment in the first 90 days and if I get one its a bonus.

Take that and use to rehab an older home in the area so that you can compete against the new builds that are being bought by out of state investors and transforming them into rentals. 

I tend to analyze deals with a value add mentality (within reason of course), if the latter happens it's a bonus. 

First of all, a buyer's agent representing you is almost always paid by the seller's side (aka free service to you), so wouldn't be a great bonus to have someone who's on your side fighting the good fight for you.