Since 2001 when rates were dropping and then became 0 at the FED the rates we have had for the last 15 or so years are not "normal" In fact I would say we have been spoiled and I would even be sold to bold as to say this: Get used to it getting higher, much higher.

Find people who are smarter than you that you can learn from.People WILL judge you for your age (not saying this is right, it's just the way it is) and you must overcome this by becoming an expert and being ridiculously professional AND by surrounding yourself with partners who do have the credibility and experience.Be humble and yet confident - realize that you have much to learn and be willing to listen to others' ideas and feedback.Be bold but not reckless in your actions - after receiving the proper education.It would probably be prudent to try to do some smaller projects first to build up your reputation, but if you are dead set on doing this then by all means go for it, you just have to be willing to work hard (I'm talking 80-100 hour weeks), be humble and be bold.

Check out the statistics right from the MLS.2.

Ponder that statistically money people did not earn themselves is gone in a period of two years.  

Check crime statistics and demographics to know who you will be renting to.

Make sure you look at population growth statistics, to what degree the local government is investing in the infrastructure (businesses, community centers, parks, roads, etc), and if the government is more landlord or renter friendly!

:How do you find current population statistics?

Originally posted by @Zac Boelkow:Also, a fun statistic to keep in the back of your mind. 100% of all foreclosed properties had mortgages on them. 

Going up against that emotion with a bold and divisive voice, even if you are 100% technically correct, you will get absolutely trounced in the court of public opinion, (as you see here) and my fear is you will take others that don't run our businesses the same way, down with you, as laws get written and new politicians get elected. 

After I target a top 3, the plan is to read through each city's CAFR for details about their economic status currently and future projections, financials, and statistics.