I'm trying to evaluate the city of Huntsville, Madison, Harvest, Owens Cross Roads, Meridianville, New Market, Hazel Green and Toney.For anyone that has experience investing in these areas, I'd appreciate your insight on the following:- What areas have the highest tenant demand and why?

Hi,I am planning to buy my first rental property and looking at Harvest, AL.

And, a 5% to 5.5% cap rate property will actually produce tax advantaged cash flow - OP may actually harvest close to that after taxesIf I were in OPs shoes, I’d want some REI and not be totally passive and “safe”.  

Focus on Tax EfficiencyTax-Loss Harvesting: Use taxable accounts to offset gains with losses, minimizing your tax bill.HSA Contributions: If you have access to a Health Savings Account (HSA), max it out.

If so, the best call would be to sell it to harvest the tax free gains.

Now I have only logged a few Redwood sites in CA. ( too tough to get permits) and what they allow you to harvest is younger trees as you note.. 

Approached on a 145 acre mature teak plantation ready to harvest. 

Do a tax loss harvest  4.  

They also run the risks of high levels of regulatory pressure and litigation by virtue of their renting to legal wards who have access to free lawyers and zealous bureaucrats who see independent investors as a crop to be harvested.

If you have loss-position assets (ie stocks, bonds, etc..) talk to your CPA to see if the year of deemed sale will be a good time to sell the other assets and thus harvest the losses.