(With 30%+ Spanish speakers in many 'border state' areas now, for e.g.) 

Most people got burned in the market crash, me included, because they were gambling with market appreciation.  

Its a big gamble, and one the note seller is obviously not willing to take to potentially earn a meager $5k more.

This is a gamble in regards to appreciation. 

on one of your post a reply came back that your comparing oranges to Iceberg lettuce and for sure you are when you compare vegas and Memphis.What caused the meltdown in Vegas and PhX  @David Faulkner  well I can tell youVegas relys on gambling and tourism in the crash any tourist city and gambling city got hurtand then for rentals  what killed that market and phx is that a very large portion of your renters were in the building trades subcontractors laborers etc etc.. building came to a complete STOP.. those thousands upon thousands of jobs left.. and most of those folks rented.Memphis is a rental city and has basically always been one with about 50 to 55% of pop are renters.

That being said, no one knows where the line will be drawn with gentrification, so it's a gamble either way.

I'd never invest for the potential of appreciation alone, it's a silly gamble.  

I have this language in my lease in case I later find out some one has been staying there:Tenant will not give accommodations to borders or lodgers without landlords written consent.i.Tenant agrees that giving accommodations is defined as providing living or sleeping space to a person(s) for 3 or more consecutive days. ii.Tenant may petition landlord for special guest privileges when family is visiting. iii.Tenant agrees that if Tenant gives accommodations to anyone not listed on this lease tenant will be evicted and Tenant’s security deposit will be forfeited in full. 

There's also other cities across the border that I can help you with.

It’s a diverse community, one of the most racially diverse neighborhoods of Detroit, that borders Grosse Pointe.This is one of the few historic neighborhoods left in the city where you can still buy properties for rent and make a solid return.