If you buy in such a city, you are almost guaranteed to have limited appreciation and rent growth.If a city has significant and sustained population growth, then the current housing supply will be insufficient and prices will rise until the demand (the number of people willing and able to buy) roughly equals supply.Rental rates are closely tied to property prices.

We sold a $330k rental property with almost no base so we need to do an 1031 exchange of roughly $300k to offset capital gain.

Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3.

I am in the Palm Bay, FL area and bought an SFR 3/2 for 220k.  30% down, 6.375% rate, and after all expenses, with a property management company, it should cash flow roughly 175/month. 

We're doing this and cut our $2400 rent down to ~$1400 doing an Airbnb on our spare room and this is charging roughly $60 a night.Also, cut off expenses that aren't adding value to what you NEED.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I would anticipate roughly 20-40k depending on how deep you have to go.

They look rough on the exterior and most of them are located in the class C neighborhood.

I'm relatively new to the real estate game with three properties with roughly one year of equity. 

After paying 2% commission to a buyers agent(no sellers commission paid because I’m an agent and will list it) $12,500 we are looking at walking away with roughly $147,000, $73k each.