In this case, stable, healthy population and job growth is more important.

That's a bit under where I normally like to be, but I know that the property is quite stable since I stay on top of things and do everything myself, plus I have capex saved up for expected repairs, so in this case that is acceptable. 

I read that yes actually going to the area is often a must although if it’s already rented out with stable rent history for couple years, and after paying for inspection should I still?

I do not yet have copies of the leases to know if the are NNN leases.Also, if there is a vacancy, it will probably take quite a while to fill as this town is stable but not hyperdynamic economically.What considerations would you suggest I take into account or things I should look into before going further with offering on this deal?

The new ABoR president, Steve Crorey, said that,“While the Austin area continues to break records, the pace at which annual home sales and prices are increasing in Central Texas is beginning to normalize, indicating a more stable market.

The company previously said it was looking at metropolitan areas with 1 million people and a stable, business-friendly environment.The remaining 20 places are:AtlantaAustin, TexasBostonChicagoColumbus, OhioDallasDenverIndianapolisLos AngelesMiamiMontgomery County, Md.Nashville, Tenn.Newark, N.J.New York CityNorthern VirginiaPhiladelphiaPittsburghRaleigh, N.C.TorontoWashington, D.C.The e-commerce giant received 238 proposals from cities in North America, many with lofty tax incentives and unique offers directed at CEO Jeff Bezos."

The one caveat is that you lose some of the protections that government loans (assuming you have government loans) provide, but assuming you've landed yourself a stable job I think the trade off of cutting your interest rate by over a third would be more than worth it. 

From the landlord prospective it makes for a more financially stable tenant who is motivated to be clean & trouble-free.

@Hector GonzalesI recommend you choose a financially stable CPA.

And if the real estate market crashed because of economic weakness, are you still going to have that stable job to allow you to qualify for a loan?