(Metro area should have a diverse economy, not just tourism, etc..)

Austin is arguably the fastest appreciating market and has diverse employers. 

The drop in oil prices is is having a dramatic impact on this market and virtually all industries in it have been and may continue to be negatively impacted (see article below).I'm not sure if and if so when these oil companies will be able to transition to clean energy production, but it would be something I would be very concerned with when considering investing in Houston.www.houstonchronicle.com/business/economy/amp/The-deceptive-diversity-of-Houston-beyond-oil-8325303.php?

Poster is looking for rehab budget / sqft though - a lot easier to estimate than $/sqft purchase price in a city as diverse as Seattle!

Is the economy diverse?

Hey Lisa, Phila is a very diverse and hyper local marketYou have areas that you can invest 100k on a duplex and others that you can invest 1M for oneWhat I would suggest is to first find out what kind of tenant base you are looking for.Who is the average applicant?

Texas is very diverse and San Antonio is heavily active duty military.

Second: Build your DIVERSE AND QUALITY team!

The state and metro GDP has had a strong positive trend over the last few years, the population has been growing over the last few years, it has a diverse job industry, crime rates have fallen, rent to value seems to be reasonable, etc.My only concern is the the median home value which seems to be around $180,000.

Sometimes the decision made at the court house drive me crazy, but I remind myself I have all these units, lots at a 3% interest rate, my tenants are paying down my mortgages, and they have continued to appreciate.Having a diverse portfolio has also helped.