@Steven Wilson Good point...Dayton is heavy on defense and defense contracts in the private sector...mostly the Beavercreek and Fairborn areas...I have to tell you, I went on a development tour in Dayton about 3-years ago and was blown away.

That type of decline on a national average basis is the result of a catastrophic worldwide economic events. 

Most investors like to see job concentration spread out across multiple sectors and among different employers so that if one sector/employer drops, the town doesn’t tank.

I could see this turning ugly if certain political spins and viewpoint enter the discussion.....I don't like the idea of foreign countries having huge financial control over large sectors of the RE market (or any US market for that matter) .

The median value of a home in California was 2.7 times higher than in Texas in 2021.The continual soaring housing prices and cost of living in California and much greater affordability in Texas is likely to sustain the significant flows of Californians toward Texas in the coming decades, he says.Lower housing costs, affordability in TexasOther than lower housing costs, the factors that make Texas attractive to Californians are the no-income tax policy, the lower cost of living and employment opportunities bolstered by the tech and energy sectors.

I did what you're doing and spent time evaluating areas based off of diverse job economy, growing population, purchase price/rent, public and private sector, etc., and we landed on Memphis.

We are prepared to fund the rehab and have down payment $, but having a hard time getting bank financing in the Hospitality Sector right now. 

There are talented operators that have and will make money in this sector.

If it fits in your criteria as an investor and you find out the whoeseller made a lot of money maybe you should think to yourself that I need to stay in touch with this wholeseller because obviously they are good at what they do.I am a sales person who works for a worldwide corporation in construction and I feel proud of myself when I can make the company high margins and in turn get paid better commission checks.

Building a solid business plan and financial buffer can help mitigate these risks.Education and Licensing: Depending on your location, there might be specific licenses or certifications required for contracting in the real estate sector.