Buying at low cap rates AND low vacancy rates, AND historically low interest rates, AND during a time when Millennials are delaying home buying AND new building permits are low is the perfect storm waiting to happen.

FSBO is going to work out in lower price-points and maybe someday with millennials if they ever start buying (but that may be 10-15 years down the line with current studies, their debt to income ratios etc) because they culturally use their phones for everything and that's cool and interesting and agents will adjust to this culture (we've been studying this for years at tech conferences). 

It also is home to a local university so the millennial population has begun to flock towards it.

@David Dachtera good points - thanks for chiming in.One point I found interesting was one made at the end of the article, regarding the real estate purchasing habits of millennials.  

Check out this interesting report from Realtor.com that shows Memphis as one of the Top 3 destinations for Millennials in 2016 (personally, I am running into these young folks all over town).  

Interestingly LA figured it out, most investors went to cash only, and fractional ownership via investment groups once the prices outpaced buying ability for the average investor, which helped keep them from taking much of a hit.This drove Millennials to stay home longer, a lot longer.

Student loan debt is keeping millennials out of the market as well. 

Boomers were beginning to retire, while Millennials were too young to buy. 

Its always a struggle on whether to raise rents.Denver is filled with Milennials, not sure how Bellefonte is, but so my target is responsible millennials with a stable ad good enough paying job(X3 rents).I like 2bed/1 bath as lots of millennials like the idea of splitting housing to cut costs, so I find that many like the 2bed/1 baths, which I too like.Basement with potential to turn into a finished basement:Chi, ching!

Sounds like she may be a millennial snowflake you will be better off without as a tenant.