Hi David,If your family can handle the nomadic lifestyle, migrations to a new 95% LTV owner occupied primary residence can occur as soon as one year.

:grin: btw, population migration is heavier OUT of the state than IN - - I wonder why?

If you give it another 12-18 months, I'm confident that these things will become increasingly obvious.The middle class migration to cheaper markets (Dallas, Austin, San Antonio, Charlotte, Phoenix, etc.) and tech center growth (San Francisco, San Jose, Oakland, Seattle, Austin etc.) has impacted the cycle a bit, so the drops may be less severe in these high population/job growth forecast markets, but nonetheless there will eventually be a flattening and price drop.The more interesting question is: in markets with an increasing trend line, will the next bottom have prices so high and rents not high enough that I cannot buy and cash flow?

However, employment is high and the city had negative migration for the past couple of years because of it.

Look at employment trends, jobs and job growth, migration, and other economic drivers.

There is a lot of demand from renters in these price points.As for the properties you described as B Class, I would say that both Alex (as the owner of his company) and my family (as owners of ours) as well as at least one other vendor in Memphis all migrated up the chain to find better properties in better areas of town.  

I can't document it but heard someplace the CA has a net out migration. 

For example, a cold water supply pipe above that vent might have warm moist bathroom air from the downstairs shower/bath migrate and condense on the cold surface causing a drip drop minor leak.

Lets say 50% of that is hired from existing population and 50% from migration. 

New investors particularly like the idea of being able to "drive and look" at their property :-) Here's some posts to help you explore that direction if you're interested:https://www.biggerpockets.com/forums/55/topics/396376-looking-to-get-unstuck-in-the-sf-bay-areahttps://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushBest of luck!