They focused on properties in their hometown in attractive, stable neighborhoods for at least 10% below market value that created a cash flow of at least $200 a month from day one. 

We also want to attract a class of tenant who will not have an issue placing utilities in their name. 

A coin operated washer and dryer should pay for any increase in water or electricity and would most likely attract a better tenant class 

Here are some of the pros and cons that I see:Pros:Property management costs would be lower over the life of ownership due to proximity of homes in portfolio, low maintenance flooring, siding, etc.You could build them with more robust systems(HVAC, plumbing, etc) knowing they would always house rentersYour portfolio would be concentrated as opposed to spread all over a geographical areaYour exit strategy would be super attractive if you were to sell as a packageQuicker than purchasing and potentially rehabbing an older property, and accumulating them one by oneYou could sell a percentage of them to recoup a portion of your investment, and rent the rest, which should put you with solid equity from the gateCons:Entry costs and length of time from start to first months rental income for constructionFunding the construction, or finding the right lender to fund such a property/developmentKnowing the correct price point of the finished product, or what the community is lackingLocal zoning or possibly being prohibited to build SFH to rentHigher construction costs vs. multifamily(apartments or townhomes)I know there are many other strategies out there, but as one wanting to accumulate a nice rental portfolio, this seems to be a solid approach.

The brew city has been voted as one of the most attractive places for enterpreneurs and millenials.

The property that I have in MI is performing well and I think I can get 2 or 3 there that will attract better quality renters in general.

I always consider from ground zero to "I can breath easy" should take about 5 years on your first go round.

I personally do not think it would be a very attractive area for Airbnb rentals. 

It will allow you time to catch your breath after a long move, learn the area, figure out the roads, etc, and learn where it's best to live for your commute, schools (if needed) etc.

The loan balances are a high percentage versus the branches total deposits level.In the coming years banks might pay 2,2.25, 2.5 percent or more on CD's and savings to attract money in.