Your cash flow in a recession would largely be dictated by your location and the type of traveler staying at your unit.

Your QI is not limited to a geographical location because 1031 is a federal statute that applies in all 50 states. 

I would not invest in locations where the military is the sole “industry” in the town.

I am located in NYC, but looking to invest out of state, where prices aren't as egregious. 

National tenants tend to do better as their sales and profit is spread out among many stores and locations so a dip in one location with eventual upside can be a positive.Another factor is checking to see road projects coming up and if the changes will impact the traffic flow from your area.

If the realtor is telling you that it comps with houses that are obviously bigger/newer/nicer/better location then send them on their way.

To add a bit of background I’m currently located in Sacramento, CA.

I'm located south of Seattle.

Simply say these magical words: "Okay officer, which sign and where is it exactly located, I will take it off immediately!"

If I am working to build my team in a market that is 3 hours outside of my native market, is it essential that absolutely ALL of my team members be located in that market?