I have my thoughts as to why Richmond has strong fundamentals and economics and is poised for steady rent growth.

Sounds like you found a great deal, and I agree with you that the appreciation should continue with building of the new federal courthouse and also Harrisburg University is supposed to be building a $100M building downtown, which I think that economic force will trickle into the Midtown area as well.Let me know if you have any questions, I'd be happy to help!

# of doors and $$$I think Birmingham, AL is a great location but every market is hyperlocal in regards to economics.

@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.

This is a question to those who had tried to refinance a mid-size property during the financial crisis as well as to the bankers and lenders out there who were still lending during those crazy times.Hope to hear your thoughts.DK

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.