The way you have to think about it is through value creation for the investor.

You are right about job creation - Texas has evidently created a cottage industry of contractors specializing in fixing crappy contractors mistakes.  

Maybe others on here are meaning Sheets when they say they use Excel (the word "Excel" tends to be interchangeable with any spreadsheet creation software). 

I've done the math on long-term returns (which is what myself and my clients are after) and a few months of lesser returns don't impact the overarching wealth-creation benefit of real estate found in appreciation, depreciation, and tenant mortgage pay down over its lifecycle.

@Dan FallaREIN and ACRE are the creations of Don Campbell and team and exist to sell you everything from books, to membership, to education and mentoring/coaching.I'm not saying one cannot benefit from being affiliated (the networking), but you need to go in with your eyes wide open and your billfold securely in your pocket.

I think job creation, new home starts, number of STR's in the area, new apartments coming online, etc...

My name is Pierre, and I am excited to join the BiggerPockets community as a passionate real estate investor seeking connections and knowledge sharing.Originally from Cameroon and now residing in New Jersey, I have been captivated by the world of real estate investing and its potential for wealth creation and financial freedom.

Answer/Hint: value creation vs capital investment. 

With the creation of communities like Bigger Pockets, IMO mentors aren't essential at all. 

So it does not return too much cash flow from an income stand point, but by having a 5% cap rate this in essence means that every marginal dollar of NOI $1 added per month can create a multiple of 20 times in value ($1 / .05 cap = 20) or if multiplied by 12 months in a year, $240 dollars of value in equity.The 10% cap in rural indiana with the same terms as above would have a monthly cash flow of $8261.95 or approximately 22.8% cash on cash return with out factoring depreciation, appreciation, or amortization.10% cap = 10 X multiplier of Net Operating income or NOI so each dollar you can "net," per month by either increasing income or reducing expense creates $1.00 X 12 months X 10 multiplier = $120 dollars of value in equity.So the difference is in how the market cap affects your ability to create "equity," with the lower cap rates you dont need as much increase to create that equity while in the mid west since the cap rates are higher (lower multiplier) you'll need to have in this case double the net income creation to fabricate the same amount of equity growth as in Seattle.If you're trying to reposition and sell for profit, a lower cap market can be better if you find a troubled property with an opportunity to force equity in Seattle since the value multiplier is much higher, 240x.The rural indiana property with a higher cap rate could allow most to live financially free ($8261.95 cash flow per month) while offering a lower 120x value multiplier to create/force equity.So it all depends on your strategy to focus on equity or cash flow and to recognize which "play," you have in front you and whether the juice is worth the squeeze for you personally.