I can't really help you guys in the HCOL areas. Our RE is very reasonable in my area. I am looking to transition out of residential and move to farmland and commercial property. Less return but way less responsibility. I've never heard of fixed rent in a community. That is insane. It could lead to slum property with no incentive to compete for better tenants with nicer property. This is what metro housing has done to our area. Private supply and demand keeps the market alive. I have a two bedroom that rents for double of the metro housing rate in my area. It is very nice, granite, ss appliances, tile shower, hardwood floors, sky lights, custom cabinets, radiant floor heat, central air. The tenant loves it and swears she will live there for the rest of her life. My buddies thought I was crazy for doing it and pumping that much work into a rental in a LCOL community. Bottom line was supply and demand. I have one of the VERY FEW nice rentals in town.