You still have to worry about other things like job growth, population growth, unemployment, macro economic trends, etc. 

Nothing is passive and even US treasury bonds which are considered the safest investment require one to monitor the economic climate.

If you're considering venturing into the realm of flipping properties, Fayetteville, North Carolina presents a promising landscape.Fayetteville, NC, stands out not only for its robust housing market but also for its exceptional quality of life and economic resilience, drawing a continuous influx of skilled professionals and military personnel.

I read industry magazines like Multifamily Executive, The Real Deal, etc and see who is buying, then google that company.Again, I don't want to imply this is a steadfast rule, but often times, when I find groups that have long track records, consistently good returns through multiple economic cycles (definitely experience through Financial Crisis, and ideally dating back to 90's), I will get on calls with their team to find out that they are QP only offerings, and/or have $150k+ minimums.  

ESPECIALLY in this economic era.

As for the potential risk of Detroit home prices returning to 2008 levels, it is possible, but much depends on factors such as the economic situation, city management and strategic investments.

There are other economical improvements that can be made, as well, that would significantly boost your occupancy, and possibly your ADR.

You will typically find a lot of distressed properties in Ft Myers due to the age of the properties and the economic diversity in the city.

I'd suggest investing in a market with strong job growth and expanding economic base, like Columbus, Ohio.

I live in columbus and miami about half the year both. economic activity in miami is like 20x what columbus is. net migrations by number of people are waaaaaayyyy more in miami. columbus has 10 out of the 14 growing counties in ohio. it's not just one county or city, it's the entire MSA. cool chart but definitely would never put Detroit in the same category as either.