It seems like we are buying properties in far more distress and moving them further up the spectrum into high end for their markets. 

Where do you find yourself on that spectrum?

This strategy could be replicated, but probably not a small college town of small public university that churns out graduates who are on the lower end of the salary spectrum.

I can take any numbers, twist them around, add and delete and come up with what I want.The truth is, Millenials at the higher end of the age spectrum within this class are absolutely buying homes, they have way more savings than baby boomers or other preceding generations ever did (likely because us older folks have been preaching the importance of savings, controlled spending, and investing to the younger generations for decades now and they have seemed to listen.Every single one of my buyers over the last 18 months (yes, every single one) was a 30 or so aged young couple with massive savings for down payment, great credit, and high income.

and talk about some of the different submarkets here that work, what numbers you target in your property and your perspective on the different ends of the spectrum of rental properties (buying low for high cash flow, buying high for wealth creation via higher appreciation, but consequently lesser cashflow) etc.

Now if you’re on the lower end of the market spectrum in a place like FL, I would totally go month to month.

As you get the place ready for the next renter, definitely consider screening options that cover the full spectrum of reporting so you can mitigate your risk of having a situation like this happening again (even if the property is in an area where something like this is common; again, I'm not really familiar with the conditions of the area/what neighborhood this is in, but you should be able to secure a tenant for your unit in a way that is good for your bottom line).

Jeremiah my friend was an early investor and I’d say on the spectrum of MI properties he did ok in that he didn’t lose his whole investment like many did (just most of it). 

Your team most likely has a mix of both - you will see fairly quickly where you fall on the spectrum of prospecting vs marketing.And follow up! 

Performing vs. non-performing are on the opposite sides of the passive/active spectrum.