Now you are at 180k but with 100 properties you now have inflated costs. office cost, employees, etc.

Ceilings are done in flat white.

I'm also currently negotiating several 5-10 year leases on a mixed use property of mine and the thought crossed my mind that I don't have a contingency for a high inflation scenario - my annual rent and CAM increases are 2% and 5% respectively. 

Local lenders think local they might not have the exposure to other markets. ie: any property under $400k does not need an appraisal, they really do not care the valuation, they are just going to keep rates low and over inflate the market, its best to buy as much as you can in anywhere except CA or NY!

I do not want to be the inflated Arv guy.

One big reason to get into real estate is to hedge against inflation and as a means to get long-term cash flow.

They have inflated ARVs to entice you on the spread. 

By utilizing mechanisms like HELOC's and refinancing, we justify the appreciation of our houses by having literally artificially created capital available to afford them, which in turn lead to 'demand' which inflates prices.The reason home valuations became so high during that '08 crisis was because literally anyone could get a mortgage.

While I think it would be almost impossible to argue that Columbus doesn't currently have a better market than the other two options, I'm concerned that the craze to buy there has created artificially inflated value.

I estimate age remaining, take current market rate for such and use a time multiplier to account for inflation.