Well my first thought would be states with no income tax,Second possible oppurtunity zones, (legislation is currently stalled as of 22 March to include more census tracts)third asset types, I like multifamily 4-20 units, sfr portfolios 5-10 or ones you can cherry pick.then to markets Memphis is a good rental market secondary market like desoto county, bartlett germantown etc.

Since you have never done it before and want a set "guideline" moving forward- I would suggest you look to the old rent control legislation that made its way into many municipalities in the 60's and 70's.Base it off of consumer price index + 2-4% since many expenses are not in there.So you would look at the yearly increase for the 4th month prior to your renewal  month:https://www.bls.gov/regions/ne...So let's say your renewal is 7/1, you look at Feb '20 - Feb '21 = 1.4% + your factor of 2-4%.

There is also some local legislation in place that places restrictions on STRs for non-local area residents (I'm expecting to move in 2 years due to the military).

If you want to start an STR ATM Planning are not approving CUPs until Metro Council has voted on the new legislation. 

Anyone Know how to legislate to have water bill follow tenant?

All of which is state specific.More to the point, there are a number of law firms targeting holders of CDs, especially in states where legislation has resulted in laws where a CD holder may inadvertently violate law.   

Aside from that, with recent legislation in Quebec, I would expect a downward shift in % that settle there.

With new legislation that took place starting January 2020, CA mandates that local jurisdictions  cannot require owner occupancy on property for ADUs. 

The government deficit is so high that the only way to pay off the debt is to stoke inflation, so that the government can pay off its debt with dollars worth less, in purchasing power, than the dollars the government borrowed.All said, regardless of short term variations I believe the major trend will be higher price tags for property and rents, and a declining ratio of debt to value over time for whatever properties you hold.My plan is to take the long view, keep looking for good investments in good areas, and sell properties in areas that legislate or regulate in a manner that tells you they don't value what you bring to the market.Good hunting.

The majority of our state lawmakers are conservative, so they don't usually legislate favorably on the side of the tenant.