However, that young millennial that works at a bar and lives paycheck to paycheck may have issues paying his $1700 a month "luxury" apartment rent in South Tampa.

For example, your remodel job is beautiful and should definitely up the rent somewhat, but given Gilbert isn’t Scottsdale, or Tempe near Mill Ave yet, it may have a restricted affect attracting the type of millennials with wads of disposable income.

I’ve spoken to a few operators who are able to find financing in today’s environment; however, access to capital is still a question mark moving forward.We will likely see the acceleration of millennials moving into single family detached homes in the suburbs.

I feel that I have narrowed my search down to two regions:Melbourne, FL: It appears millennials are moving here with Space X, NASA and other STEM jobs growing aplenty.

It's a solid area with a mix of working class tenants and some millennials looking for a cheaper option still close to Logan Square.

Any investor, especially a budding millennial investor who more likely has the time and means to take up such a challenge, would be prudent to start this journey now while opportunities for gentrification still exist.

You don't need a unicorn started by millennials and GenZs to do it.

Is there an abundance of millennials and baby boomers in the market?

The St Pete area was getting a lot of the younger "millennial" generation.  

We have two issues: old people live longer, boomers age in place - that reduces supply. 84 million millennials are starting to buy houses; we are just at the beginning of that tital wave.California is it's own market and I am not sure what will happen to prices in markets like LA or San Francisco; with working from home, demand may come down.