I invest in mid to upper-income areas where good credit scores and high earners aren't hard to find. 

A 25 basis point cut is likely, with a 75% probability, as the Fed weighs solid wage growth and labor market strength.Part-Time Employment & Immigration ImpactPart-time employment surged by 264,000, reflecting business caution.

is there a particular formula that takes all manner of factors, (employment growth, corporation development news, barrier to entry, rental rates, wage growth, etc) into account and spits out an "invest in city X" answer?

Then their clients do a cost segregation study because they benefit from being high-income earners.

For high income earners, they may want to do an STR and a house hack separately rather then doing this as the net net of it all may actually be higher in some cases. 

The appraisal indicates the rents will cover 1.1 of the PITI, and the credit is good, with 20% down, solid savings, and a W2 earner (a beautiful lending profile).

Now, on the inverse, I’ve been calling out insane rent growth on a local level especially because we have a ceiling of wage growth.

Can anyone recommend a good accountant that specializes in STR tax strategies for W2 earners?

I tell them that I will do my best to garnish future wages to collect what is owed including the cost of the eviction.  

Example: the intention of Passive Activity Limitation (PAL) rules is to prevent high-income earners from reducing their taxes by merely investing money into real estate.