For example few have good foreclosure records, almost none have equity, and I have yet to see any with demographics (age, kids, etc).

You need to look closely at not only the numbers, but the environment (neighborhood, demographics, crime, access to services (bus, transportation, etc.) and proximity to jobs). 

Most national tenants want strong demographics with population, median income levels, great access and sight lines to the property, and high traffic counts.National tenants tend to not be in the weaker type areas and only dollar stores and local type banks go there.

The best way to narrow down your area is other factors: whats happening to a city's demographics?

However, I also incorporate appreciation potential, price, area/rental traffic, rental history, tenant demographics, logistics, regional history, etc. and it's hard to know all that if you're not intimately familiar with the area.

in addition to all these factors, it is the largest port of entry for our fastest growing demographic...

Your looking at class A areas in Portland while trying to get cash flow normally reserved for class C demographics.  

For us if we did not buy multiple houses there is no way that $150kish would produce this kind of returns in the house demographic we were interested in.Hope that helps!

However, there is not a whole lot of low and middle class housing being built, so if this is the demographic that is moving to Florida, this new housing won't make a dent and prices will continue to increase.

(Moving, sick, elderly, equipment is old and they want to dump it on someone else, demographic changes).