It's important to choose that one and commit to using it.

Choose a goal so ambitious it forces you to grow into the person who can achieve it.

In times of economic stress, people may not choose to vacation in Las Vegas.

The purchase price, construction/labor costs, and ARV are all higher here in California than most states so I already have a high tolerance for risk and have the necessary liquidity to scale. 

I would think it depends on the company, and their tolerance and experience with it.

With interest rates climbing gradually and the "potential" for a recession, the need for housing is still at an all-time high and people are choosing apartments for several reasons.

Also, it's going to depend on your risk tolerance.

Choose a location with low-cost homeowners insurance because they have the lowest risk of natural disasters: Insurance - ValuePenguinIf you follow the above process, you will now have a short list of potential cities that are very likely to appreciate much faster than others due to their strong fundamentals.

Both methods require finding a property that makes sense for your risk tolerance, purchase ability, etc.

Just choose somewhere in the mid west were 200k buys you a very nice livable home.