Census Bureau and Bureau of Labor Statistics.2.

If you have statistics on home appreciation numbers that is another indicator of how much rents should be going up annually in a strong market.

(I made up the statistic, but I know from talking to a lot of investors, they don't have a clue how an LLC is supposed to run because they simply down loaded a form to create the LLC and were off and running.

I'd like to cite on statistic:  Sales volume of apartment buildings. 

Go to the FactFinder at https://factfinder.census.gov/faces/nav/jsf/pages/...Enter the city/county name or zip code you're interested in; under the 'Housing' tab there are several tables that include statistics on the number of rental homes, average size, estimated average monthly rent costs, etc.

Small satellite cities that are that far from a metropolitan statistical area are not attractive to me.

My recommendation is to start with what is called a "top down analysis" which involves choosing an Metropolitan Statistical Area, then a sub-market within that MSA, then a specific multifamily product type and then you will work on choosing the correct property.Step 1: Analyze nation wide population, job, supply/demand and multifamily transaction trends in markets which you are interested in. 

I don't know the statistics.

Serge, you and I are in full agreement on this.When you purchase a REIS report on a property, it shows market vacancy statistics going back 5 years.  

A lot of people that get into it have some kind of contingency (a second job, a wife or husband with a decent enough income to support both of you, pensions, live with parents etc) Those that don't have one of those contingencies becomes one of the statistics of people that don't survive more than a few years in the business.