The characteristics defined by the location include:Total capital required: If you can grow your portfolio using accumulated equity by cash-out refinancing, which is only possible in areas with high appreciation, you'll need considerably less capital from your savings.Inflation protection: Whether rents outpace inflation, enabling you to sustain your lifestyle indefinitely, only occurs in cities with significant and sustained population growth.Income persistence: How long your income will last.

At the end of the day the goal should be to make enough to give you an optimum lifestyle but not go overboard and cause yourself more work/hassle if you don't actually need the additional income that comes from it.Increasing the quality of the area/properties should make it easier management wise and if you don't necessarily need the cash flow now could end up ahead in overall return compared to the lower end areas, especially if you use leverage.I think it depends on your source of active income as well and how long you want to continue doing that for.

Others like the low cost of the mid-west and have the, skills, time and energy to manage a project long distance.What strategy to deploy will depend on your goals and what your skills, lifestyle, and capital allow you to accomplish and the balance of those 3.

I listen to your podcast religiously and have learned so much.

My verdict: it could be a winning play given your equity and potential upside, but carefully weigh the pros and cons.Crunch the numbers: Factor in all expenses, potential vacancy rates, management costs, and ensure the cash flow covers your mortgage and leaves you with enough buffer.Consider alternative Bay Area locations: Maybe there are suburbs with less pressure on prices but still good rental potential and appreciation prospects.Don't rule out the single-family option: If the numbers work and you value the lifestyle, don't discount it entirely.

Things like accessibility, entertainment, lifestyle, surrounding road/property conditions make the southern part of the island low on my list.

New developments in Manor, East Austin, Georgetown, Plufgerville, Cedar Park, Buda and Kyle are seeing new luxury devleopments that offer a luxury lifestyle without the excessive rental pricing you'd see near downtown Austin. 

It just has to fit for each individuals lifestyle and expectations.

I invest exclusively overseas as I can get better returns than at home in the right places but I wouldn't touch Thailand with a 10-foot pole, unless it's for lifestyle.

This increase is partly due to higher demand for rental properties as people move to the area for work and lifestyle reasons by there are other things to consider of course.