Most REITs should not trade at huge premium and/or discount to NAV and when they do it is often a lot about perception about the future of that REIT or that RE market.

It is merely your perception of the goal.

The investing model you develop for yourself will empower you to be able to take action and feel comfortable in whatever investment you own/flip/or participate in.I would also change your perception of debt so you can see the advantages of leveraging debt for cashflowing assets.  

In other words don't let your perceptions of what's possible and what's not limit your ability to take advantage of my services.Stay blessed

Your argument of no jobs and low pay doesn't seem to be founded in anything other than your perception from an occasional visit and maybe what your friends/family are telling you...please let me know if I'm mistaken.I'm curious what is so compelling about Columbus or Indy that makes you think that these cities are poised to appreciate significantly faster than Louisville and would make for better buy and hold purchases?

We no little about cash buyers and the perception isn't the best. 

Do we set particular goals because of societal programming?

It may seem corny but trust me perception is everything and can make or break a deal.

It's my perception that those markets pretty hot just like ours.  

They will appraise for less and the buyer perception or stigma of modular is still undesirable.As for the cost to rehab or build new it all depends on type of construction and level of finishes.