If you haven’t already, I’d scope out the municipalities around town.. from what I read in The Economist, the Phoenix metropo area continues to rank high for job growth, which usually bodes well for new builds.

And do you think you're the only game in town?

Quote from @Brad Finley: Hey community,I am looking into investing in my home town of Cincinnati. 

The income amounts look to be long-term rental (which they are and came in 30% lower than what the STR average did) and 2. why did the appraiser look at homes 20 miles away to compare to when there are PLENTY of rentals in town...

We are in a tiny town about 36 miles south of Coeur d'Alene Idaho.

A couple of issues you need to be aware of are any ordinances that are in your town or coming up.

In one town where we had 12 rental houses, every one was sold to owner occupants, not landlords.

I've been looking at a lot of smaller towns around Cleveland, Ohio and have noticed there are a lot of seemingly decent cash flow properties, but more around the 1.5-1.8% rate.

Developers have been on a building rampage for the last 5 years, so we've got brand new apartments sitting vacant and properties less than 50% full in many areas of town. 

A couple of Roof claims due to storm damage in Tucson, and we had several sub-to deals in Oklahoma when grapefruit size hail decimated a big section of the whole town.