Is this a highly populated area, are there lots of jobs, are people moving to the area or is the population declining?

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

Has it developed much in the last 5 years? 

My piece of advice would be to research emerging neighborhoods and focus on areas with strong job growth and infrastructure development. 

We talked about an aggressive paydown at a rate of $5k for the next 6 months to make the deal sweeter for the next person, but renting it would be preferable to that I believe since I can get a higher return on smaller development projects at a burn rate like that. 

Developers will not be able to get these bonus building permits without providing such TDR credits.  

Didn't get into rentals on pupose but it's working out well and I want to continue to learn and develop my portfoilo.

Unfortunately there will be a smaller population.

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

There are a lot of markets with solid job markets, strong populations, solid rent growth, but when you are talking ONE property, unless you are considering highly rural areas, it likely doesn't matter.