I'm in one of those more cyclical markets where there're boom and busts vs. the rather slow and steady appreciation in other parts of the country.  

I think your steady approach is the way to go.

Now with 156 units it stays very steady and doesn't have those wild fluctuations overall.

Personally, I think you're doing it the right way as slow and steady seems smart for starting out! 

Subprime was a large contributor to the crash, but borrowers treating their houses like ATM machines,  lenders providing the capital with guidelines written by  Wall St hedge fund guys who were steady buying the paper while being egged on by legislators was what caused the crash. http://fortune.com/2015/06/17/subprime-mortgage-recession/

Growth has been steady and there are more companies moving to this area and creating jobs.

The city's robust rental market driven by a growing population ensures a steady income stream. 

I look for a steady income with a somewhat secure investment.

I’ll usually have an American fund fund in there too.Fairly low risk and usually steady returns; a little better if you can guess right on the ‘play around funds’.

@Dan Edwards  Temperatures here are over 100 in the summer and get down below freezing in the winter.