So if you have some capital to invest in rental property, which is the best (OK good) market as of right now? Where we live, property is insanely expensive so we are looking to invest in buying a rental property but in the area where we can easily settle in later phase of life (read when kids are out of high-schools so good 6…7..8 years).
I have researched a bit and it looks like Detroit, Michigan, Houston, Dallas and Austin are good places to invest where one can buy decent 2000sqft-2500sqft, 3-4 bed, newly built home in good 275k-350k range. Our idea is to stay around 300k-325k, put good amount down and payoff in 5-7 years to get rid of mortgage.
comments? suggestions about the areas?