Most owners are local and therefore “hot” money or out of area players are not yet chasing Pittsburgh assets, keeping prices favorable.References United States Census Bureauhttp://www.cmu.edu/news/stories/archives/2017/august/economic-impact-report.htmlMarcus & Millichap 2017 Multifamily Investment Forecast2017 Commercial Real Estate Trends Report by Integra Realty Resourceshttp://www.pittsburghmagazine.com/Pittsburgh-Magazine/September-2017/Staying-CMU-All-Eyes-on-Carnegie-Mellons-Future/http://www.nextpittsburgh.com/features/pittsburgh-developments-watch-2017/

So everything hinges on appreciation, which could come back with inflation.Primary residences are often not good rental assets.

Don't amortize the concession, that affects your NOI and the valuation of the asset. 

I’m not looking to retire early or replace my income through rentals—I just want to diversify our assets.

Done right 2%/month return on asset value is possible. 

I also invest in other assets such as stocks, and private companies as well.

but selling a trophy asset in a great area and then dumping the proceeds into money pits just because of paper math... would not be my step 1.hope this helps

Even if it is slightly less cash flow, you now have a second appreciating asset.

Who wants to sell their worst-performing property and turn it into a better asset? 

Many of these were lost in tax sales, and the ones that they got re-performing underwrote loan mods at low single digit interest rates during ZIRP and could not resell them at a profit once interest rates were hiked.