The only time where it goes hand in hand is, if the neighbourhood is deteriorating (in the McDonald example is when traffic is diverted when a new road is built, or if there is a migration out of a neighbourhood where business is going down and so your NOI as well as the value of the business).

In San Antonio, Houston and the DFW metro-plex, you have some of the highest and fastest growing areas of the country in jobs and migration. 

I started with SFRs and slowly find myself migrating towards MF houses and would like to continue in that path.Are you focusing in and around NJ or considering remote/out of state?

I prefer lateral trending markets, with in-migration, and a robust population.I just looked up cities over 500k and there are only 36 in the nation.

Here's a few posts to help you get quickly up to speed:https://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rush https://www.biggerpockets.com/forums/55/topics/396376-looking-to-get-unstuck-in-the-sf-bay-area https://www.biggerpockets.com/forums/621/topics/398662-heres-what-fixer-uppers-on-the-mls-are-selling-for https://www.biggerpockets.com/forums/621/topics/416542-priced-out-is-rent-control-coming-to-sacramento Check those four posts out, and you'll know more about Sacramento than 99 out of 100 other investors out there haha.

Just decided to manage it myself instead.As for the Sacramento market, here are some posts I've written that should help you get a better sense of the trends here and where the market it headed: https://www.biggerpockets.com/forums/621/topics/586279-investing-in-sacramento-or-stockton-which-one-is-better https://www.biggerpockets.com/forums/621/topics/590913-rent-growth-in-sacramento-is-triple-the-national-averagehttps://www.biggerpockets.com/forums/621/topics/585796-sacramento-rent-control-101-everything-you-need-to-knowhttps://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushhttps://www.biggerpockets.com/forums/621/topics/398662-heres-what-fixer-uppers-on-the-mls-are-selling-forHopefully that helps you make a more informed purchasing decision.

In migration is high, job growth is high and taxes are low.

"Most people migrated [to Las Vegas] from cities like San Fransisco, Los Angeles, and Sacramento, Updater said."

I would also suggest Cascade Brewing Barrel House, Eastside Distilling, Sessionable, and Migration Brewing. 

I think there's opportunity for investors in this migration pattern.