That $1400 rent actually makes sense given the low purchase prices.

Silicon Valley job growth in tech and manufacturing, low property taxes, and landlord friendly. 

Quote from @Monish Anand: I'm a fan of the low prices and my plan is to STR since I currently run a short term rental business.

I moved from the SF Bay Area to live and invest in Reno, NV because of it being much more landlord friendly, low property taxes, close to Northern CA and Lake Tahoe, strong appreciation, and I understood the market after speaking to a bunch of people and feeling confident about the future here.  

However The barrier to entry in the REI teaching business is very low and a lot of bad players join the game.What you describe led me to come up with Ned's Rule of Gurus.The quality of an REI course is inversely proportional to the price

The current owners have extremely low occupancy and are open to selling.

If salt lake city is a low cap rate market then its impossible.

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The suburbs have a number of good PM companies, but due to the low price points and rents, and the nightmare of dealing with the city and courts there, most of the good property managers in the general area won't touch Baltimore.

I would not make that statement, as not every deal is levered to the tilt - I know some deals that have very low leverage.