Buying at a 9% cap and financing the purchase with 5%-6% debt still leaves you with a healthy spread which should result in a decent return.As next steps, I recommend asking the broker about the items above, obtain a rent roll and income statement for the past 1-2 years, and visit Best Places to review the population size, avg apartment rent, median home price, and unemployment rate in the metro area.

Hey Joe welcome to BP the fact that you’re here posting in the forums puts you way ahead of 90% of the population.

I'm from there, and my only concern is that it's a military dependent town, so when the Army is shipped off somewhere, that affects the population.

I know for our market the MLS sold data populates to Zillow so that info is normally pretty accurate. 

The real details were 2 acres so 500k an acre and it was a hard corner with red light and high traffic counts in a strong suburban area for population and income levels,etc.    

Matty, my bank is in a small Texas town with a population smaller than most peoples high school class. 

What does population growth do for property investments?

Charlotte is the third fastest growing city in the US (http://worldpopulationreview.com/us-cities/charlotte-population/) I know that both Charlotte and Raleigh are both strong for rentals and strong investment plays, but I think Charlotte is a fantastic city to live in.

The information below is either provided by World Population Review, the Kansas City Regional Association of Realtors (KCRAR), or Zillow. 

Maybe this should be number 1, I invest in a small town (population of about 17,000) where the contractors in the area are not used to working with investors.