Great Addition - on the switch from year to year - arguably the biggest flag in my opinion in Real Estate - "shiny object syndrome" switching from niche to niche repeatedly (especially as a "Guru") - whats tried and true for RE success IMO is people that stick with one strategy and niche (type, market, strategy, etc.) for years, stay focused when its in and out of flavor, and end up with big wealth and track record after years.Definitely flags of the last few years when people go from "STR" to "Multiamily Syndication" to "Boutique Hotels" to "Experiences" and so on... 

The market in the area seems pretty competitive with some nice apartments costing around 2,000 for rent so I am considering renting it out for cheaper maybe 1.8/1.9 so it doesn’t sit too long on the market.

I'd recommend a minimum fee like 10% and you charge interest and points that are equivalent to market conditions, you also get the first guaranteed 20% profit as the only capital partner. make sure to take title in a single purpose entity and dissolve it after you build.

It's a great place to meet some locals with intimate knowledge of the Youngstown market.

I am a newbie and looking to eventually get into the Birmingham market.  

One of the worst housing markets in the country, 27% of homes still severely underwater nearly a decade after the last financial crisis.

I contacted the power company, and they directed me to the tax assessor's office to inquire about obtaining a separate address for the pool house.

Consider markets like King's Mountain and Jacksonville, which offer the potential for appreciation and rental demand.

Should I be looking elsewhere if nothing on the market in my area cashflows at 7%?

However you are familiar with the AK market, local contacts, etc.