However, some investors see potential in these markets because of low entry costs, steady military demand for housing, and decent cash flow from rentals, especially if the area has stable, government-backed tenants like service members.

Wow, this seems like government over stepping.......good luck Shane!

Politicians and federal agencies were lying about the strength of the economy.

Only thing that popped up for me and it might not ever again is that when Trump shut down the government a while ago it included HUD and I was getting nervous that payments would be delayed. 

A valid government-issued ID is what I require.

Federal along with state chartered credit  unions that are not permitted to charge prepayment penalties are also competitive right now on rate and more and more are building out construction platforms, although very conservative on construction originations.  

Immigration plays a big role in this, so it would be hard to predict unless you know what happens with population growth.I think it's still a basic human need, and one that the government can not provide at a reasonable cost.

With government backed rentals, we are assured not to have our payments disrupted by shutdowns, offsetting any loses during that time.

This aligns with the other responses in the thread, as passive activity losses (PAL) rules govern how these losses are applied across your rental portfolio.

I've worked with government employees, families who have been displaced by fires, and other clients / employees who are my tenant but aren't financially responsible for the lease.