I think the same thing is happening in CA in high fire areas, where we also have another rental property.

Because the Property Class dictates the Class of the tenant pool that the property will attract.

Because the Property Class dictates the Class of the tenant pool that the property will attract.

No, it's not a discount on purchase price but it is a discount to purchase. - Class A tenants, in a Class A market, with class A asset.

Buying a class on arbitrage is like buying a class on building a class.

Where these numbers are found, there is a very high rate of rent actually being paid.We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

I'd also look at the asset and more at Class A to B properties, and be cautious of Class C (I will never buy a Class C or D property again). 

However, due to the high interest rate, the property doesn’t cash flow — if I moved out and rented it as one unit, it would still be losing a couple hundred dollars a month.I’ve saved enough for a down payment on a second property hopefully within the next 1-2 years and also opened a HELOC on my current home to cover any potential repairs or upgrades on the next.

Also look at interest rates-how much can you get if you put that into a high yield savings account for 5 years?