I was looking for some fringe area that could see better deals and appreciation ( like everyone else lol)Thanks for your insight.

I believe this place will soon gentrify as Bozeman continues to grow and families are pushed onto its fringe communities like where I live in Ennis, Montana. 

Especially when some of the fringe residents talking about rent strikes.

@Katrina GillrupIn my case I have created a C Corp as a management corporation to manage all my properties.It creates some distance between operation and ownership.Also the C Corp has many fringe benefit advantage.You will have to check with your state laws if the managing entity needs a specific licence or not to manage other’s property.

Interesting to hear what's going on currently from an agent with boots on the ground.I'm looking on the fringes of good neighborhoods, within 20 minutes drive to Cincy. 

Once you start to hire your own employees you have to account for hiring, firing, sick time, training, payrolling, vacation, supervision, fringe benefits including healthcare and more, adding about 75 cents to every payroll dollar. 125 units maybe the minimum number of doors to have it make sense.

You are also not competing with the large homebuilders like Lennar because they need to build scale and are out at the outer fringes of Miami where there is still enough available land.

So the academics are right except at the very fringe.

I buyer stops  then you through the unlicensed wholesaler who is trying to work on the fringe and low ball basically distressed or non owner occ properties and buy from burnt out landlords.. this goes on all the time. although right now one would need to be cautious in the wholesale gig with so many HML backing out and changing their fee structures..  

This of course has made cash flowing deals more difficult to find, but 1% deals can still be had on the fringes of Metro Orlando (think 30-50 miles from downtown in any direction).