@Charles Stanback ,Population growth, job growth, crime, schools, taxes, occupancy levels, labor availability, etc. are just some of the factors that play into it.Larger macro-economic things like credit markets can also have an impact at a given time,

Always buy in areas that have good economic fundamentals.

For the $900 we’d gross, it doesn’t make sense to tie up the $360K in equity.Frankly, this economy has me questioning if I want to wait for the next downturn to invest as interest rates are nearing 5% and property values are beginning to stagnate as we approach our 10th year of economic growth.

If you cannot find a deal in Jacksonville, look an hour south to Orlando...With tourism and hospitality as its main economic drivers and backed by unprecedented population and employment growth, Orlando’s multifamily market is thriving.The metro added almost 47,000 jobs in the 12 months ending in May 2018, keeping Orlando well above the U.S. average.

If you have 2 months of vacancy (physical or economic) that is a 8% vacancy rate.  

All the economic numbers indicate the South leading the pack.  

Even if you scraped the money together, you would be one sneeze away from pneumonia (vacancy, unexpected repair, job gap, tenant doesn't pay, economic down turn).

There would have to be an economic incentive and then that is going to involve taxes on gain etc etc. 

What will happen to property economics If this gets repealed?

In summary, it is a quick and dirty test of a property's economic viability as a rental.