A foreign national selling the property would also raise FIRPTA issues that may be greater than the tax.  

In addition, Utah has been ranked as the nation's #1 state economy for the last 4 or 5 years. 

U.S. home prices have increased by more than 47% since 2020, according to a recent analysis by ResiClub of the Case-Shiller National Home Price Index, outpacing the growth of the 1990s and 2010s, which saw prices rise 30.1% and 44.7%, respectively.

Russ,  my point was about lack of affordable housing.. and 200k to 300k is below the national median and affordable.. so its up to folks that want affordable houses to buy what they can afford .this way they get out of being life long renters and they build equity etc..

Additionally, its affordability with a median home price below the national average makes it especially appealing for investors looking for a solid return.

Prices might go WAY WAY up even when national averages are going down or vice versa.

Vacancy rates:The overall office vacancy rate in Tampa is 9.4%, which is below the national average of about 13%.For residential properties, the homeowner vacancy rate is 1.0% and the rental vacancy rate is 4.2% in the 33619 zip code.Days on market:Specific data on days on market wasn't provided for Tampa overall, but the median days on market for homes is 89 days according to one source.Promising areas:The Westshore and Downtown Tampa submarkets have seen increased occupancy, with an uptick of 175,000 square feet over the past year.The Westshore submarket has seen its vacancy rate drop by 100 basis points year over year to 12.5%, hitting a four-year low.Rental property insights:Tampa has a high percentage of renters, with 53% of the population renting rather than owning homes.The median rent price in Tampa is $2,941.Market trends:Tampa's real estate market has seen strong appreciation, with a total appreciation of 129.39% since Q1 2000, at an average annual rate of 4.41%.The city is experiencing population growth and an influx of young, educated professionals due to increasing employment opportunities.Regarding your interest in a brand new construction SFR with live and work usage, this could be a promising investment given Tampa's growing population and the trend of people seeking to live close to their workplaces.

We then stayed in that one (though it wasn't bad - just needed some cosmetic updates) for 7 years, just moved out, kept it as a long term rental, and moved into another major fixer in our STR market across the country near Acadia National Park in Maine.

Was this appraisal ordered through a big AMC like appraisal nation who most DSCR lenders would accept a transfer from?

The reason I have not purchased is not fear of RE depreciation as much as the rates hurt the return such that my underwriting does not depict the level of return I seek.