Friends, I always appreciate the viewpoints and diversity of views and experience that enter the recession discussion.  

Clearly you want a good operator and a good manager at minimum, but an area increasing in average rents by 4% a year and seeing a 3% per year influx of immigrants and with a plentiful and diverse jobs base can tolerate a little "sleeping at the wheel" on the part of operators. 

Doesn't mean your plan can't work, just that you should know where you are in the ecosystem.

They both have solid economic and demographic trends, modern/diverse economies and industries, strong rent ratio's, reasonable property taxes and insurance and favorable landlord/tenant laws.

We've set ambitious goals and are open to exploring diverse strategies to achieve them.

Personally, as an investor I like to see either strong population growth or a diverse economy with multiple industries for a long-term rental investment property.

@Jennifer Pauyo I am in Cincinnati/northern KY area and invest in Ohio and urban and rural areas in KY.Whenever I go to our local REIA meetings I am amazed at the diversity and the number of women investors.

Most law texts will tell you that decisions of state supreme courts are binding on federal courts interpreting state law under diversity jurisdiction.

Bakersfield actually has a pretty diverse economy.

I guess I do have scale in wholesaling and in the diversity/ creativity of deal-making...but still...I feel humbled being put together along side these real estate GIANTS.And as far as my answer to the dream team...I would gladly have: @J Scott, @Brian Burke, @Ben Leybovich, and @Jay Hinrichs to my dream team :-)