@Jamie Rose Good to know, I'm going to take another look. 

It seems like in the Great Recession, the expensive areas city fell first (didn't fall as far), and then rose again first (rising far higher) when compared to less nice areas.

Last year alone, per capita income rose by 4.3%.”

My local market has a cap on the number of licenses they will grant, 225 total units, and only one STR per block face, the waiting list is about 2 to 3 years long.

Second, consider putting  a "cap" on any included utilities.

Economic diversity is much better in MN, rents are much better, cap on appreciation potential is higher.

(about a 400K loan) - or people buy a condo,  or move further out to get a house, etc.However, inventory is very low and demand for homes, especially SFR's is still high, so that pushes up prices on what is available for owner occupancy, even though there is more of a cap on what rents can cost since after that price point people have an option whether to rent or own something, somewhere.So thats a good reason NOT buy single family anywhere near seattle for renting purposes. 

Originally posted by @Marc Rose:@Wade KulesaSo far, I count 6 people out of 78 replies who say they have personally done this in this thread.

City County # of households Median Household Income Oxford township Oakland 7,868 $70,381 Livonia city Wayne 37,199 $70,125 Brownstown township Wayne 11,119 $70,095 Chesterfield township Macomb 16,710 $66,779 Gibraltar city Wayne 1,739 $66,477 Rose township Oakland 2,587 $66,117 Royal Oak city Oakland 28,371 $65,786 Shelby township Macomb 29,464 $65,404 Allen Park city Wayne 10,592 $63,007 Farmington city Oakland 4,671 $62,261 South Lyon city Oakland 4,805 $61,523 Holly township Oakland 4,272 $60,960 Sterling Heights city Macomb 49,444 $60,089 Harrison township Macomb 11,076 $57,217 Flat Rock city Wayne 3,664 $56,700 Clawson city Oakland 5,481 $56,395 Waterford township Oakland 30,127 $55,552 Van Buren township Wayne 11,275 $55,309 Woodhaven city Wayne 5,163 $55,266 Trenton city Wayne 7,798 $55,218 Lenox township Macomb 3,175 $55,159 Sumpter township Wayne 3,533 $53,153 St.

See chart Even adjusted for inflation, they rose.