Everything else is fairly controllable, and even Capex is foreseeable.  

I'm not stating that it's inherently wrong, but aspects of it have gotten out of control.

You can still buy plenty of things in nice college towns that make money. 

Cannot control association fees3.

If you add unit to your home, your home likely became rent controlled.  

From what I can tell, it seems like most of the very small towns in this area; tons of trailers, single family homes, no visible high rises or larger multifamily that I saw. 

To learn more about which one may be best for you, feel free to send me a private message.Old Town North: An Unused Eye Soar Transforming into a 2.5 Million Square Foot Community CenterThe GenOn coal power plant, which opened in 1949 and was shut down in 2012 due to concerns by residents about local pollution, has occupied an unused 20-acre lot in Old Town North for the last 12 years.

It is a large, old Victorian in a small, rural town.

One is in Nashville, purchased in 2017, and one in small town in a coal area, PA, purchased in 2022.

If you live in CA, NY, Boston etc - the financial difference is big enough.Investing in your home town is always best, you have the home-field advantage and you can buy, rehab and manage a lot more efficiently.