Population, population growth, ease of access, resources available, population growth, unemployment, unemployment trend, job growth, job diversity, supply vs demand, median income, education level, local economic development, landlord/tenant laws, etc.And then a lot of that should not only be applied to the whole market but also the submarket/neighborhood you're looking at too.Investing anywhere is a risk vs reward, so is the return worth the risk it provides.

I teach high school economics and coach wrestling here in Watertown where I grew up. 

If there is any economic issues in the job market or specifically the engineering market than everyone will run. 2.

Not as affected in the crash and both with critical mass to their economic infrastructure. 

If that were the case, you'd see a significant change in economic cycles between 1950 and today, as the driving force of our economy has gone from durable good manufacturing to a service economy. 

My question with almost all these STR’s is how will things cash flow during an economic downturn?

That's why I wouldn't want to build from the ground up, especially not now in the economic cycle - too much risk, too much time. 

Good properties sell in any economic situation.

I have a goal to become an investor and build up cash flow and ultimately let the money work for me so i can actually get out of the economic slavery that so many think that they are stuck in. 

@Angela Dani I prefer the term Venture development; "describing economic development activity that is focused on using best-practices and activities of experienced business mentoring in order to help create venture and angel-capital-ready firms which have the promise to create significant economic wealth"From my experience it is best to hold/BRRRR in these areas as they rapidly grow in value and comps aren't solid when determining a flip value. my biggest lessoned I learned was not getting started sooner!