Good luck Austin!

They had been able to do this for a prolonged amount of time since the economy was still proving to be relatively good based on unemployment figures.

This is a "good ole boys" market, it's all about who ya know. $850k is a bonkers price for there, so no surprise this outcome. 

One needs a good bit rehab and houses in that area of NC are now going for 280k and renting for $1200 with comparable sq ft. 

After analyzing the local Mercer County market I've noticed there are not that many MFH that are desirable meaning cash flow can occur, but appreciation, schools and good tenants will be at risk.

Might be a good place to start. 

I understand its good idea to have a separate bank acc for rental income.

A few good things to include in your introduction: Who you are, why you joined BP community forums, any experience you have had in real estate and/or what you're hoping to do in the future!

They do not want to work from home every day, but also do not want to make the long commute to the office.Thus, it seems to me that there is good reason to believe that small office spaces, including for small local/regional firms, services firms, and co-working spaces near large suburbs will see a steady increase in demand with little net new supply for the next several years. 

If so, what are some good appreciating markets with good economic growth and safety?