Lots of people on here want to knock concepts like the one you are asking about, but in my experience most of those people haven't even worked through those kinds of companies or bought properties, so focus on the ones who actually have (if you can figure out who that is). 

If you buy in such a city, you are almost guaranteed to have limited appreciation and rent growth.If a city has significant and sustained population growth, then the current housing supply will be insufficient and prices will rise until the demand (the number of people willing and able to buy) roughly equals supply.Rental rates are closely tied to property prices.

Also title to figure out if the land can even be used for a particular purpose.But to answer your question regarding value, a decent metric is the current tax assessed value of the parcel:https://sdat.dat.maryland.gov/RealProperty/Pages/default.asp...Or you could pay for a broker price opinion..

If you figure it takes a few thousand to build a new bathroom, but you can charge an extra $50 for that room.

I'm relatively new to the real estate game with three properties with roughly one year of equity. 

The depreciating asset is already factored into my investment strategy.It will take me a little while to save up enough money to get something, so I have some time to figure out what I want to do.

I try my best to stay motivated and focused even though had a few rough experiences on other projects before with them.

Eventually I figured out that if I sunk all of my cash into properties, I wouldn't be able to buy any more for a long time and starting using some leverage.

You can sit down with a lender to "run numbers" and find out roughly what you qualify for. 

No matter where you choose to invest, please keep in mind the following (copy & paste):--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?