It's just demographics.

We focus on coastal, lake, river, resort, country club areas where the demographics are conducive to support investment. 

And this demographic has not appreciated that much.

Does he know anything about demographics?  

Research the area, demographics, jobs, companies moving in, Starbucks and malls, restaurants, hospitals, schools and all other life amenities near by.Don’t invest in MSAs under 250k population.

Scott Trench is inspiring, driven and on fire, the advice were actionable even if you think that your situation is not a perfect match for the demographic that i think the book is targeted ( mid 20s to 30s single man house hacking).

Also, if the property is vacant, doesn't that mean the location demographics didn't support last tenants lease payment and cost of doing business at that location?

We don't use that either because they only use HomeAway advertising websites and the majority of the people in the demographic we target use AirBnb.

I also like the American Demographics magazine - it features general trends, such as how homeowners now tend to be older or how Millenials prefer to rent longer, like walkable apartments, and get married later.

Definitely not a financial or investment advice but some general guidance for consideration.Some of the factors ( A few I think you already are aware of ) I look for when evaluating a market include: Population growth and demographic trendsJob and economic growthRental demand and vacancy ratesProperty taxes and regulations…@Patricia Steiner laid this out brilliantly.Overall real estate market conditionsBased on your budget and investment goals, you may want to consider mid-sized cities with strong economic growth and rental demand, such as Austin, TX( There is a new Samsung plant brewing in Taylor,TX); Nashville, TN; Charlotte, NC; or Raleigh, NC.