Our analysis shows many home sellers are thriving in the Bay Area, San Antonio and Los Angeles metro areas, where price cuts are sparse and homes often sell at or near their asking price.On the other end of the spectrum, the Cleveland, Philadelphia and Tampa metros are buyers’ markets, with homes taking longer to sell, less competition in the marketplace and more room for bargaining on prices.

Some people thrive on that type of thing.

There is a university that is seemingly thriving, but no jobs for the graduates.I've been wholesaling since last year, and can find the legit deals (40-50 % ARV, 25% cash-on-cash, lowest on market, no war zones) but the "cash buyers" just don't seem to have the cash.

The great thing about San Bernardino is that it is surrounded by many well developed and thriving cities.

However, is it a realistic expectation to find a great deal in a thriving economic area, where rentals are booming?

One area of town could be thriving while the other side of town is lagging.

Thank you Jim and welcome to the community as well sir, hopefully we both will gain the the learned experience through others in being able to thrive in Real Estate Investing for years to come. 

Bullet Points for St Petersburg:Short term rentals (anything less than a month) are technically illegal, but...Code enforcement only enforces this on a "by complaint" basis.The City can't change this law in any way (in either direction) without risking losing the ability to regulate short term rentals altogether, so...We have a thriving Air BNB "black market", but it's inherently risky and you should not base your long term cash flow numbers on this model...the smart strategy seems to be get it while you can, but be prepared to quickly shift to a long term rental strategy if you get busted. 

@Shaun Sullivan obviously I don't know your market but here in Oregon I absolutely thrive on the rural areas.

They make or break a deal, make you money, brake you, make you thrive in real estate or quit real estate.