The problem with the logic of always fearing economic turndowns is that you can be wrong on timing by years.

Big changes are on the way that are bound to affect the student housing sector, hospitality (including AirBnB and VRBO), and the economic layout of downtown.Recently the University of Arizona president and board decided to no longer pursue increasing undergraduate enrollment by 20,000 over the next 5 years.

3)This would be the safe option to play in case there is a crisis and rents lower a bit.Why it might be a better option to wait some months?

They gave me the freedom to invest in any project that when into a Deal Economic sheet we've created, passes and is deemed profitable.

Those are markets I’ve heavily considered as a newbie but have been trying to understand why more investors are passing on those areas whether that be numbers aren’t rich enough for them, access to PMs, or some other economic factors that pose too great of risk to be an hour or so outside a larger market.

@Spencer Gray I like this kind of macro economic analysis and enjoy spending a lot of time looking at it. 

If not, you may be faced with the economic reality of a real estate shortage in many areas, that will cause properties in foreclosure to be sold at or very near market rate if they get to the auction block.Yes, foreclosure "deals" (preforeclosure, etc.) are still out there but there is less meat on the bone than there was in previous markets and, there are many other players working those fewer deals that are left, that have been doing it longer, and have deeper pockets.

That event could be fire, murder, storm, economic changes or anything that severely affects the location.

Also, consider having an accountant look over your deal istead, including whether it makes economic sense.Once you have used a HML and have grown comfortable both with the lender and your own abilities, you can probably dispense with it.

Is 5% vacancy economic or physical?