I’ve got a brother currently under contract purchasing a foreclosure property in the small town we grew up in.

I Grew up with parents that have invested there whole lifeHow did you find this deal and how did you negotiate it?

As my investments grew, so did the infrastructure that you are discussing.

It took more negotiating to get my wife to agree to calling the home I grew up in "our first home" than the deal itself.

I grew up a bit north of Elmira in a town called Horseheads, did a college undergrad year in Buffalo.

I grew up in Cleveland and would be happy to jump on the phone to discuss our business.

I grew up in Texas City.It's fairly small.

Even if the city population grew by leaps and bounds (which is unlikely), it will take a good amount of time for new tenants to absorb those available SFH and MF units before major new development can occur that is financially feasible. 

Ultimately with the appreciation v. cash flow debate, what you truly want is IRR aka both.This deal swings way to the side of an appreciation play, which is enormously risky AND at a time when the market is pushing new heights.I grew up in California and witnessed the power of appreciation.

They want to see the area they grew up get better, these neighborhoods are important in the context of their lives.