In each successive year I own, with rents appreciating nicely hear, I project my fixed costs being a predictable vector, and my rents increasing, faster than inflation and tax hits.  

I plan on building a LARGE nationwide network, so anyone who IS working with me will be very glad they DID, after the next so- called (and predictably 'cyclical') 'correction,' occurs.  :-)  Scott 

Obviously, there's many factors at play and no one can predict the future interest rates (beyond reasonable guesses for the next few months) and other factors.

In these areas and in these conditions, not only do the properties not go up in value, but the rents do not go up as predictably as the national averages would have us believe.  

Another factor to consider is the aging population predictions about to explode in 2020.

It's certainly market specific, and while I would agree that things are feeling a little bubbly in general, to say it's the worst time to buy would suggest you can somehow predict the future.  

That's a fixed rate with predictable payments the renters would cover.

You can predict that real estate always goes up over time.  

Don't get in the business of trying to predict the future.

You can tighten this through proper underwriting but you can't predict it with 100% accuracy.