It seems it might be a lot safer to stay here in town because of the known growth expectations, the connections I already have (although this is pretty limited I am still green to the game), the stable job (that I am sick of) I can hold onto and quit when I'm ready, and the lifelong knowledge base of my area.However, it seems like the opportunity to sell houses in a relatively rural area are still going to be pretty limited and the total volume of sales in the area even with a large percentage growth in population will still be low, the value of homes here is low enough that my commissions when I do sell will be consistently smaller than if I moved, I will struggle much more finding a home to buy elsewhere and even getting a loan will be more difficult if I move.

If a person has high credit, stable income, and a significant down payment ready then they are buyers not renters. 

Some of my reading indicates cap rates track with the Fed rate (with an offset) assuming stable jobs, population, etc. 

In my opinion, with your strong analytical background (as well as a stable job w/ base and bonuses I'm assuming), I don't feel you'll need to do any 'grunt work' for a more experienced investor to get your foot in the door.

Out of all of the investment products out there real estate is the most stable. 

So you can really help yourself out.By the same token a move from a volatile market like Vegas to something more stable can be a good mitigator against a potential correction in the market.

Smaller stable upper Midwest town of 15,000.

Two pics of the same unit, one beige and the other gray.Location 2nd story of a 2 story 12 plex in a desirable location. 1 bed room 1 bath unit - Typically looked at by W2 stable Class B long term (type) renters in their 30's and 40's.Pics are  1st impressions on opening the door for the prospective renter(s).Based on your experience and thoughts:[1] Which unit would rent for more, if for more--how much more than the other, and which would be time on market the lowest (more desirable) ???

We have seen great cash flow over time as well as pretty stable appreciation.

The Memphis metropolitan area is a market that has seen great cashflow, but also pretty stable appreciation over history as well.