Every small town is different with unique characteristics and features (good and bad) so I wouldn't rule out a deal because it's in a small town.

As far as I am concerned, distinguishing between the characteristic 'tude and money habits of these two varieties is a lot like debating the differences between Prussian and German cockroaches.Now my question for you, Karen, since you began the pointed questioning -- do you have ANY residential tenants at all?

Consider job stability, length of employment with same employer, personal appearance, interior condition of vehicle, length of time at their present home etc, etc.There are hundreds of characteristics that will distinguish one from another.No two are ever equally qualified certainly not all 4.

.* Yard amenities, etc - in-ground pool/spa, covered patio, built-in BBQ's, elaborate yard landscaping and upgrades, etc.Those are many characteristics that we look at when evaluating a home, and then we are looking for recent sales that, hopefully, have many of those attributes, or we piece together different sales which have some of those attributes, to reflect the important characteristics of the Subject Property in the market.

We (appraisers) are supposed to research/gather, and analyze all reasonably available data from the market and allow "the data" to dictate the market reaction to specific characteristics, including locational differences, specific property characteristics, etc.

The expected return will vary depending on the characteristics of the neighborhood.

Those tools will also help you figure out what the characteristics of high performing properties are (# beds, sqft, lot sqft, etc.)

I drive through quite often and every time I do it seems a little hipper and a little less, well, Junktown ;) I know it’s gotten more expensive recently but it’s still super cheap compared to other places with similar geographical characteristics and recreation opportunities.

This is the most fundamental characteristic of the market and it's not even discussed in the report.The report focuses on the domestic market even though the money is made on the international market.

Considering that maybe 1% of people go to real estate seminars and maybe 1% of those ever actually do a deal, having the right mindset is probably more important than any other attribute or characteristic , for someone to actually become a real estate investor.