The Fair Housing Act is what applies to privately owned property (with the exceptions Bruce listed above) and it forbids discrimination against prospective tenants because of their disability as well as race, religion, sex (including gender identity and sexual orientation), skin color, familial status, and national origin. 

I can tell you what I see on the NNN commercial side nationally when buying for myself and searching for clients.Cold belt states tend to be least desirable, followed by mid belt, followed by warm belt most desirable.

do you expect this area to appreciate significantly more than the national average?  

The bottom line this will not be a strategy that would meet your goal.I cannot name one national DSCR lender that currently offers less than 12 months of seasoning on cash-out refi's.

There are some good QIs right here on Bigger Pockets that operate nationally. 

Interestingly, this from the American Association of Private LemdersFew know that the American Association of Private Lenders was for a brief period in 2009 (the same year it was established) called the National Hard Money Association.

The 5 year proforma by DEFINITION is based on a whole slew of assumptions about a whole host of issues in the future - national economy, local economy, interest rates, cap rates, rental rates, political and geo-political factors.

@Devan WilsonThe nearest local lender to Oklahoma City with a physical office that has done a 203k in the past year is based out of Lawton, OK.This means that you will most likely be relying on larger national lenders for your 203k loan. 

High crimes would be East Cleveland and some of the eastern and western parts of the city of Cleveland. 

This shows the city's expanding potential for both investment and homeownership.Jacksonville, being a strong market for investors, allowed investors to pay $330,000 on average for single-family rental properties, which is, according to studies, less than the national average.