I found rents to be depressed in Minot.

These areas are primarily rural, agricultural, forest or declining/ depressed industries like coal. 

However, the longest San Fran depreciation cycle in last 35 years is 4 years and -27% and for most people that was a once in a lifetime event (a few people suffered both the Great Depression and the Great Recession).  

Does this mean that those willing to provide community 2nds are typically the more depressed areas?

In the US however the economy is such that there are vast areas of depressed economy where a home can be purchased for 10K and rented for $500/month.

Thank you for sticking up for me brother.And yeah, It is discouraging and just depressing when this happens.

Be prepared for the costs associated with holding longer.For those looking to rehab and sell, you most likely find a depressed market to sell into.  

Anyone can look like a rock star if they bought in the midst of the worst recession since the Great Depression.

Sell.You're nowhere near the 1% rule and appreciation will likely continue to outstrip rent growth, further depressing your ROI.

They purchase ridiculously cheap liens in nearby cities that are downright depressed (and due to certain, local issues, will likely never come back and have any real value) but outsiders don't really realize that unless they have someone local with the insider knowledge.