It's about targeting the right audience at the most affordable cost.

I guess the only thing giving me hesitation is that it looks like housing prices are at all time highs even after adjusting for inflation:https://fred.stlouisfed.org/se...Housing affordability is worse today than it was at the bubble peak in 2006 if you believe Case Shiller data. 

Since you have flexibility with locations, you have your pick of cities that are growing, but also affordable.

My rents are high at $6300 per 3BR unit so I guess the risk is if economy goes south and no one can afford the high rents.     

I was informed by KCMO Health Department that landlords are supposed to be paying an annual fee to them and they conduct inspections of rental units in the city?

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.

We're still seeing 1% deals here with positive cash flow at very affordable price points ($120k-$180k).

Higher property taxes compound the expense for buyers, making affordability harder to achieve.

In some markets you can afford to increase more and in some less.I raised my tenants rent by $15/m and they were ecstatic. 

I'm not sure why you 'cannot really afford to lose' this job.