I'm planning to move to Pittsburgh from Minneapolis over summer before beginning Dental School at the University of Pittsburgh School of Dental Medicine. 

But I don't think that's anything you don't already know @Rich Weese Real estate markets going crazy is usually a good indicator of something about to happen, but I wouldn't say real estate causes the recession; rather the pre-recession creates artificial upward pressure on real estate. 

This changes as the mortgage gets paid down or appreciation increases the value of the property.Other less professional investors will usually ignore equity and appreciation in order to create artificial cash flow and ROI returns higher than they actually are.In your example they will likley suggest your ROI is infinite and your positive cash flow is actually $250 higher than it really is.

If you need higher levels of technical training for a technical career it is different (sciences, engineering, medicine, etc.).I have a question for you: if you get a somewhat more difficult, but more applicable to RE degree (finance, law, accounting, etc.) - would that degree help you more than spending the additional time it requires on RE-specific activities?

@Chris Oei - Well then, maybe this neighborhood investment opportunity could be spread among the SinCity, Las Vegas, and Henderson REI, REA, and REIclubs enough to attract a concerted and coordinated effort (to not artificially raise prices) resulting a sharing of the wealth and a more valuable neighborhood.  

On top of that we had skyrocketing building costs, interest rates being held artificially low by the Federal government, plus considerable stimulus money flowing the last 12 months.

I recommend that you contact Apartment Medic in Syracuse.

Maybe we're your reno cost last year was artificially low?

If you have to rely on IO and an idea that rents can be raised, it seems to me that the math isn't working until you tweak it artificially.

What happened in 2009 was a bit artificial due to the lending market.