These are huge when playing on the algorithm.

To me it’s a challenging game, an intricate puzzle where if you learn how to play you get great results.

The market has changed a lot over the last 10 years, it went from a cash flow play to an equity play.

I recommend you look at it in several variations.

As Jay and Jamie have stated above, a minimum of 6 different factors play into the pricing, but it is not an all or none issue. 

But the cost to play that game is higher than the likes of Eugene or Roseburg or Salem.

And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

Generally you go with the strictest ruling.With that said, it becomes a risk play.

Water - landlord plays in JC heights typically.

I'm still playing with the layout and trade-offs.