Most major metros saw rents decline during the great recessionAs for the population decline in the midwest, you need to dive more into details.

I have seen my local one decline from being great.

Then we had another offer to manage, which we declined, where they could leave with a two week notice on their end.

Most times, if they are from the same city, I decline them because there's really never a good reason why then need to stay in the same city, unless they are booking on behalf of someone. 

Especially witth the market declining..I am closing on my purchase from last week today. 500 out of pocket, Sub2ed for 96k worth low 200's.They called me because of one of my "Mary" letters...

Most of my lenders are 1.2+ since we aren't out of the woods yet in terms of rate increases AND rent stagnation/decline.

@Sarah Sass I had an acceptable (not great) cleaner, when I told her I'd give a bonus for 5 star reviews, her performance declined until I eventually had to fire her.

My reasoning is that the last recession saw rents in Phoenix DECLINE by about 10-15%.  

Although all of my appraisals over the last year have had the "stable market" box checked instead of the "declining market".

More decline?