.** Small towns may rely too much on a single business or market segment.Both state and metro populations are increasing.Low crime - High crime and long-term appreciation and rent growth are mutually exclusive.Rent control - Never invest in a location with rent control or similar anti-landlord regulations.Low operating cost - Investors often overlook operating costs when selecting an investment location, so below is an example to illustrate the difference in location costs.Rents keep pace with inflation.

But I don't want to go to a doctor until I know what I'm sick with, and what the right medicine is.

Think of any debt you have in terms of being "an anti-Treasury".

Probably not but they are required to follow similar anti-discrimination practices.  

Another is the anti-landlord approach in the area.

In certain states you cannot leave but, those states where you are obliged to take/keep section 8 are very anti-landlord, so I would avoid them anyways.This is not to say there are not markets/situations where Section 8 makes sense.

I agree with you, I think most STR's in the city would shut down and maybe that's the ultimate goal - I know at least two council members are very anti-STR. 

I got into the anti-millionaires club this year, over $1M in debt!

At the city level there has been little effort to resurrect any anti STR regulations. 

It is one of the most anti-landlord areas in the US and it is not an area to enter into without serious thought.