Any city that I'm looking to invest in I always start by looking at population growth.

Note: This could happen NOT by your choice with a layoff.

But in the South contract for deeds are not liked by the RE attorneies, where up north CFD has state statute validity (which states?). 

You will get killed on the C and D properties which are usually the majority of most properties handled by a metro PM company. 

If your new LLC is a disregarded entity (single-member or owned solely by you and your spouse in a community property state), it won’t trigger a taxable event, and you’ll continue reporting income on your personal return.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

We bought a property that we feel is assessed by the our local government too high.

There are other areas that make good STR's that are overlooked by most in favor of the trendy areas. 

I bought 14 houses basically for free by harvesting the equity in my houses by doing 5 cash out refis.

Build your network by joining local real estate investor meetups or online communities like BiggerPockets.