Looking for a market that is in a landlord-friendly state, price below national average, high rent:price ration, has +ve population growth and ideally +ve wage growth as well.

My rational is that the depreciation would be totally worth holding on to this property and see if I can increase rent in the next five years to create some really healthy cash flow.

A good monthly rent ratio at purchase in San Diego is 0.7%.   1% ratio at purchase is a unicorn find that I managed to obtain on a purchase in Dec 2020.but due to rent growth, only my last 2 purchases do not have greater than 1% rent ration today and one is over 3% ratio versus the purchase price.reality is every property that has surpassed 1% ratio except the unicorn find from Dec 2020 has had a cash out refi so my cash flow is modest.  

I just pulled June data from our MLS and prices were up another 8.12%, days on market are 5 and list to sale ration is still well over 102%.Hey admins, for some reason I can't upload charts..

Why would any rational lender take significantly more risk for the same or lower returns than a bank would get with a fully qualified W2 borrower with a perfect credit score and documented DTI?

This is one of the most rational, experience-based breakdowns of seller financing I’ve read on here.At Capable Capital, we use a nearly identical strategy, but scaled across dozens of moderately priced homes instead of retail centers or special-use buildings.We buy for cash, then sell the property on terms.

Also your first few properties shouldn’t be “rationalized” I wouldn’t buy for price appreciation only until your income warrants that.

This post is primarily for lenders and loan brokers.
I'm thinking of buying a townhouse complex with seven 2/1 units, listed at $465K.
I see it as a potential BRRRR project. I haven't viewed it yet, so I don't know...

I'm sure someone will come up with some ridiculous rationalization using the word "appreciation". 

But I think we all know not ALL people are rational, and some people / agents / adult-children don't quite get it or hide facts ( fake income statements, etc. )