I enjoy my work - I am a mechanical engineer by trade and am a senior manager currently - but I have always felt a draw to own my own rental property.

Looking for a decent app/software to draw/sketch a remodel for my planning phase.

However, I’m not an economist and don’t know how broad of a conclusion we can actually draw from charts like these.

We call this an Advanced Improvement 1031 Exchange™ where you sell one or more properties (“relinquished property”) and subsequently build or make improvements on land that you already own (“replacement property”). 

New to REI and I’m looking in a similar market but this was actually a factor that is drawing me away from the area.

Being my first property, the lack of experience and questionable rent numbers (I don't think the monthly rents per unit were realistically sustainable, but again I'm newer) combined with the terrible area and subsequent lower appreciation made me pass on it.

Subsequent improvements may also be depreciated.

So if you go onto the auctioneer websites (google for them) you'll find the auctions and can attend the ones that look like they might draw the biggest crowd.Didn't mean to go off-topic, but wanted to set you in the right direction.

You would get a "draw" against the escrow.

I even negotiated a HELOC type 2nd to draw from if any emergency funds needed in the future at same rate on a 12 month renewable basis.