So, new employers must be setting up new operations in the location, creating new jobs that pay similar wages as your tenant pool is earning today and requires similar skills.

Tenants are lower income earners.

. $8 above minimum wage right now sounds great, but it ain't sh* in the long run.

However, what this really did was effectively taken out the locals from buying anything because their wages were not able to afford the high prices then.

How exactly is ANYBODY, including dual income 6 figure earners going to be able to spend 2 million or 3 million on a 3-4 bedroom house in 10 years? 

Sure, but 10% of their wages over a year will not cover most rents.

I am running a business , I am not out there to make wages ,I am out there to make a healthy profit .

SAVE a bunch of your income.. starting off being a high income earner .... all things that help you create this machine as fast as you did.Have you thought about using the cash flow your not touching to start paying off your highest interest rate loans first. you get them paid off its like owning another unit without having to buy one.. your pay day comes when these are all paid off.. !!

A full time min wage earner getting UE + $600 weekly gov't contribution will actually be earning much more than they did before being laid off.  

There is a risk of deflation or a "burst" unless that hollow is infilled by local economy actions, factors that raise median wages.