The Fed tried to stimulate lending by dropping rates, which should have increased the pool of buyers and therefore curtailed the growth of, or in fact reduced, rental rates relative to what they would have been immediately after the crash, and perhaps suppressed growth of rental rates since that point.The oddest thing about the graph comparing rent rates to home prices, though, is that rent rates continue at a steady clip almost completely irrespective of home prices, which leads me to believe that the types of consumers demanding homes are fundamentally different from the types of consumers demanding to rent.

An older building might have been grandfathered in and now must be updated with new fire suppression and sprinkler systems, structure upgrades, greater parking requirement ratios that reduces building size, etc.  

So not sure if that might suppress rental growth as these new properties come online in the SW area?

I have always desired to help in my community but it scares me to this day,  there is some movement in portions of suppressed area but the comps are just not there.  

Would focus on the following:Zoning, special/conditional use variance process, planned zoning, Engineering- building, traffic, soil compaction, water flow, Permitting, fire suppression, fire hydrants, storm pounds, storm sewers, ADA,     Governmental- soil erosion, floodplain, wetlands,Leasing, NNN, CAM,     Valuation approaches.  

Additionally, the City requires fire suppression systems (FPS) for properties with more than 5 units.   

You mentioned turn-key properties in Indianapolis.. be careful with these because you will see a suppression in your returns.

Landlords serve as convenient foils for all of those in the business of suppressing rights. 

I have two properties in Toronto (one being my principal residence) and the cap suppression is making Toronto way to expensive if you are trying to cashflow.  

"Need" includes both available demand and latent demand (demand suppressed by the dearth of lending).