(Is that true for all these places or are certain areas growing more), but I'd love to learn a bit more about what would be the right areas to focus on given my constraints, to develop a long term performing asset.What I would want to know is growth projections, rent/sqft in these cities, zip codes that are associated with good schools (Gilbert is pretty well known).The base case that I've been building looks like this:$200K for a 3bd 2 bth Single family home, 1600 sqft.Assuming rent/sqft of say 0.9 -> $1440/monthIs it possible to net $200-$300 on that?

My guess would be the owner already scheduled a city inspection for the addition and it was denied likely from not meeting code.

Beginning in 2017, this fee will be eligible to be collected in the month of August.A $3.61 monthly surcharge may be collected by the landlord for the Systematic Code Enforcement Program (SCEP) fee.A $3.00 surcharge may be added to the rent for the installation and cost for a hard-wired smoke detector or a combination smoke/carbon monoxide detector.Meaning, if you pay for utilties, you can add 1% of rent per year, I believe up to 5%.

These are professionals with additional training and a stricter code of ethics.

HOT zip codes?

As Chris stated above there are some codes specific to the Tar Heel State. 

First you must learn your state landlord tenant codes.

I also did a soft title search on my own and contacted town assessor and code enforcement. 

Hi Lesley, I also rent in the 32209, 32208 zip codes.

Coincidentally the bldg inspector drops by & we get a code violation.