What is the smallest community you would invest in?

[Jon McElyea]

I live in Bozeman MT, which is a charming relatively small city in the South West corner of the state.  The market here is hot, which is great for the broker business, but has consequently driven cap rates down making the area difficult to find cash flow.  The majority of the state has a smattering of small towns that range in size from 50 people to 10000.  There are a couple smaller communities near my primary market (sub 1000 in population) that provide an interesting opportunity to pick up cash flowing assets.  Does anyone on here have experience with investing in towns under 1000 people in size?