Some have been on the market for weeks", that doesn't bode well for renting of any kind really.

G'Day Alejandro,As a few have already mentioned, take a peak at Toledo also.In my opinion lower potential for long term appreciation but solid/"boring" cashflow.I prefer my portfolio to be "boring" but cashflowing lolLow entry points (Sub $100,000), high rents (Above the 1% rule).Blue collar working class decent folks that will stay and pay.Depending on the area but no derelict homes, yards well kept, cars with wheels and all tenants are employed.Plus, all are sophisticated enough to pay rent online so property management doesn't have to collect rents with bullet proof vests and shot guns lolI'm bias toward Toledo but it's worth considering.Wishing you much success

For instance, even if a property has excellent characteristics, it may not rent if there is a significant amount of traffic on the street.

The calculation uses the following formula: Total Rent Potential x 75% ≥ PITI (plus HOA if any). 

What rent collection software do you recommend and why?

I'm using Baselane for accounting and rent collection.

say you find a solid property in a low cost market for $200K and you buy it.between down payment, closing costs, rent ready / spruce up costs, and lease-up costs, you're probably going to need at least 50-65K in cash. 

Should we expect the Federal portion of the rent check from the gov't Feb 1??

I have debated about moving a house onto the property and either selling or renting the property or subdividing the property with multiple homes or even several tiny homes.

Average rents are $1,250 (Again Zillow) Easily a losing propostion.