As you have seen we have investment opportunities in over 12 markets throughout the US that we've identified as being an excellent investment market based on cash flow, appreciation, equity, legislation, taxes, rental demand, job & economic growth, etc. 

I've been there a couple of times over the past couple of years and did not think that was the investment capital of the world.They seem to be holding their own, but nothing big and exciting seems to be happening there it seems.I would really want to know the economics of the town, before I invested there. 

These are the first to be laid off during economic stress and the last to be rehired.

A Cycle-TK provider, just like the TK-providers I recommend, finds a property in a good residential area but in a location that is underserved economically or inherently weaker than comparative areas in wealthier parts of the country.

Wealthy Street is currently a huge cultural and economic dividing line, but that will not last forever.Also - keep an eye on where CopperBay (you can Google) is building new rental homes. 

How's the appreciation like in the area and economics?

Not simply in terms of negotiations (because a cash buyer looks at the value of the property, while a finance buyer looks at the $Down and $Monthly and right now those are SERIOUSLY on tilt), but also in terms of Currency Risk.Regardless of what we personally think is going to happen as a result of rampant "money printing" and helicopter money economics, the thing we need to understand is that Real Estate > Cash because real estate buoys with the economy it is in (for better or worse), but Leveraged Real Estate >> Cash because you minimize your cash in an investment and use fixed-rate dirt-cheap interest rates to functionally hedge your bets against inflation. 

Does anyone have any experience on buying a first rental home in the current economic climate where interest rates are below 3%.

With the higher population density and strong job market, you will have more insulation than in the secondary market from any economic changes while experience more long-term benefits that come from being so close to a city center (rental and property appreciation).

This artificially altered the true supply/demand ratio Very low interest rates that became lower to spur the economy to combat the economic impact of Covid Realize that both of those reasons are Covid related and have resulted in a current price in excess of what would have otherwise occurred.