I don't know the rental market there, but from an auction standpoint it seems like there are not many investors in the mix (see this other BP post for links to Pasco county judicial sales).

Most areas have so much variation in comps, especially with REOs and short sales in the mix, that a wide range of numbers can be justified.

Currently work within product development/management at a tech company here in Chicago.  

It's so funny to hear people shy away from non-cashflowing investments who would have loved to buy Apple stock in 1990, or any of the other famous tech stocks.

Your boss and co-workers will be out of a job.Unless you are in tech or REI say goodbye to your W2 income.

A mix of what @Mike Dymski mentioned might give you the best of both worlds; invest passively in NNN and syndications, while taking a more active role (and having more upside) by doing your own SFH and small MFH deals.

I had a client from Oregon who followed me to Atlanta when I was buying court house steps there in 2012 and just killing it.. he did the same he bought 40 or 50 homes and in 2 years made a few million in equity like we did.. he then decides to go into MF.. and sends over this C class in Memphis.. which does not have all the city stuff but it has the same tenant mix.. it was half empty and he picked it up for 10k a door with the idea of putting in 10k a door for improvements then selling it for 40k a door.. 

We finally found a duplex that was a perfect mix of the right price, medium taxes and a decent neighborhood.

..young professionals, section 8 or low income families, middle class families , mix, college grads, college students.etc?

I am a tech guy and programmer at heart so tools, apps and so on are all cool but at the end of the day I find keeping real estate simple is the best tool.