if all properties you see are below market rents, than I don't think they are really below market, typically.Beyond the cost of vacancy, renovation budgets, etc that come into play.  

It's basically dead in most areas.

I would not try and play in the gray on this one - keeo your marketing out of those areas.

Not sure if you’re closer to Randolph, Lackland or Ft Sam Houston but this also plays into account on what rental amount you should look to achieve.

As it is when money is at play.

I’d recommend building relationships with agents and accountants familiar with these markets too—state-specific tax strategies could make a big difference in your bottom line.I’m excited to see how this plays out for you!

I don't think it's the end of the world @Jonathan Greene...if it still helps someone learn something new there is at least some positive.In my opinion, those trolls will get seen for who they really are in the long run, so it is just a short-term play...that I don't know is worth worrying much about.I'd rather someone say, "Here is a question we often get asked as a general contractor: how much does it cost to dig down a Chicago basement?  

GP is more important in many instances than the property and that is playing out big time right now.

I am far from an expert in this field as I have been learning alot myself but cap rate does play a role in your type of business.

 @Drew Sygityes it only applies to owner occupied properties regarding penalties, that is not 100% correct, there are fdcpa violations as well as potential state law penalties that can come into play that can be very significant.