This includes communicating with guests, coordinating with cleaners and performing any maintenance tasks we have not yet hired out (restocking supplies, minor repairs, etc.).

If they can accommodate your future growth.4.

In small smaller “slower” lower growth towns outside metro areas, you might see 7% cap rates.In my local market, Greenville SC which is booming but certainly a tertiary market, cap rates are in the 5% range.

With so much data out there (ex:population growth, employment, crime ect.) how can I pinpoint one market to invest in?  

Today's pricing (meaning low cap rates) is predicated on revenue growth.

Between equity and appreciation growth, you can hit that within 4-5 years.

Test your contractors / handy people out on small jobs first, and ask pointed questions before assigning tasks to determine not only if they are "comfortable" doing the work, but ask: "How many times have you done this specific type of job, and can you show me pics of the end product?"

The COC you're looking for is going to be tough to obtain as property taxes are higher but the anticipated growth far outweighs the cash flow difference. 

As a matter of fact that drive time may encourage you continue your growth a rapid pace!

We are getting an Apple HQ over the next few years so you'll see continued job and wage growth.I also work with a handful of out-state-investors in both the Raleigh/Durham and Greensboro markets on purchasing rental properties with great success to take advantage of the aforementioned appreciation, great ROI on rental rates, and continued rent growth with the limited housing inventory and incredible demand.You can't go wrong buying in this market especially with the amount of capital you have and what I can only assume to be a strong DTI based on your original post.