Some of this isn't economically feasible like the fire escape. 

We sold one property this year where we wrapped the 4% mortgage note into a 10% note and as a result are enjoying a 17% annual ROI for a minimum of 2 years and possibly as long as 10 years if the borrower/buyer does not pay us off early.After 40+ years of real estate investing, in many different markets across the country during many different economic climates, both in residential and (primarily) in commercial, I can tell you that hard and fast “rules” should be constantly evaluated to see if they are limiting the opportunity to “jump start” your wealth building.   

Learn to write well, finance, economics, engineering.#6. 

I am in the Indianapolis area which has the same Midwestern feel but much more economic diversity. 

Doesn’t matter economics of town or citizens.  

I keep hearing that it makes sense to focus on markets that have strong economic and population growth, but there's really no overlap between population growth, economic growth, low prices, and low taxes.So my question really is, what's the best way to get out of this?

You deduct all of this in the first year, and you have a big tax loss (and an actual economic loss).

I would be wary of buying a home in a residential neighborhood in ABQ with the goal of having a STR: Only CA rivals NM in terms of economic governmental tampering.

I expect economic activity to slow, rate cuts to deepen, housing activity to accelerate and USD purchasing power to continue weakening.  

I'd suggest investing in a market with a strong economic base and growing job market.