If the premium is worth the convenience for, go for it.

Supply will be a Tale of Two Halves: In the multifamily sector, we will see another year of near-record setting supply hit the US.

It is worth what comps say it is worth.

G'Day Alejandro,As a few have already mentioned, take a peak at Toledo also.In my opinion lower potential for long term appreciation but solid/"boring" cashflow.I prefer my portfolio to be "boring" but cashflowing lolLow entry points (Sub $100,000), high rents (Above the 1% rule).Blue collar working class decent folks that will stay and pay.Depending on the area but no derelict homes, yards well kept, cars with wheels and all tenants are employed.Plus, all are sophisticated enough to pay rent online so property management doesn't have to collect rents with bullet proof vests and shot guns lolI'm bias toward Toledo but it's worth considering.Wishing you much success

It certainly isn't worth the money. 

Helpful to know that income isn't a protected class, and I agree that a great tenant is worth a little leniency. 

Purchase price: $160,000 I purchased a two story home by a military base from a family member for $160,000 but it is worth more.

This is a fine needle to thread because at this size, you very quickly start competing with high net worth individuals who are seeking summer homes. 

We give our proven tenants some slack when they are upgrading since we already have a proven record with them.

Sometimes it's nice to get a new lease so that you can increase the rent right off the bat, but having tenants with a solid payment history is worth so much more to me.