I've heard about the tech and market one in TX but I'm not sure we're at that level.

Is 850k for a house that needs about 200k to fix a worthwhile investment?

Are you concerned about point breeze becoming a bubble soon, I feel like renters are going to have the upper hand in negotiations if there is too much supply. 

Here is a quick article I found with various levels of friendliness per state that also agrees with the opinions of those I have spoken with:https://www.rentcafe.com/blog/renting/states-best-...

On Friday, we lowered the rent $100 - to the same level as it was 2 years ago. 

I don't know if that helps you or not, but it tells you a little bit about what is going on at the street level.

I'm shopping for a first property myself and I've found in modelling out a bunch of deals around the city that for a buy and hold with high leverage it will take around five years to get out of the red on a lot of fixer uppers.

Better yet, buy a fixer upper with a 203k loan.

yes, they can set the reserve at any amount they want.....assuming it is a foreclosure, their final judgment would be their upper limit. 

I guess the same could be said for why would people buy at the coast when rising ocean levels can just consume their homes.