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I'd say the biggest problem with the regionals is advertising. If the PM isn't local, they'll probably just whack the for rent ads on the internet. The local PM (local being over 100km away and much closer to the city) said houses in my old town take a really long time to rent out because...

I'm tipping our local area to be the next big regional boom town in SA - it has all the hallmarks. But not a 'huge' boom per se, just doubling or tripling in size in the next few years, which just happens to be the council plan for the area. There's absolutely millions being spent on new Stuff...

They're out there, they're often tenanted, and a lot of the time they aren't advertised as having X yield. I hit one the other day in Snowtown - 4br house, massive stone and brick thing, $140k, has a tenant in. Given a 2br house in Snowtown rents for $160pw you'd hope this one is going for more...