Studying pricing dynamics the past 6 months and economics, I understand very low Cap growth, but decent cash flow.

That being said, I believe there is still some solid long term appreciation potential in the neighborhoods closer to the BeltLine's Westside Trail and recently purchased Southside Trail, as well as those near certain film studios, such as the Tyler Perry Studios.There are plenty of smaller cities in Georgia and the Southeast that continue to have 2% properties, but their locations, amenities, and economic outlooks will likely not be as promising as ATL's.

I know this is probably dictated by many factors and local economics, I would just like to have an idea of what others may practice. 

It is possible that continued economic growth will result in increased wages and if so we could be in for a long-term growth that last many more years.

The market has gone through a couple of cycles since then and I've seen how newbies get killed not keeping their eye on the macro-economic environment. 

The key is that the builder is a known brand and stable to finish out the development even if an economic slow down happens nationwide.

Bureau of Labor Statistics and Bureau of Economic Analysis have good interactive data.

Major economic shift in a city would cause rents to go down.

Looks like a nice town, but one that probably has limited economic prospects.   

My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth.