I live in Virginia and looking to buy rental/investment property. The barrier to entry in the renal market in Northern Virginia is high so I am looking at other cities/states with properties priced at 100-150K with a cap rate ranging from 8-9%. I am looking at Michigan or Ohio right now but open to other states/cites

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As mentioned here before, focus on markets you know well otherwise you’re in for a rough ride

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Drive around?

Nova proper is definitely out of the price range but there are surrounding areas in that range with decent cap rate, e.g. Greenbelt MD

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Also I realized I wrote renal instead of rental! Not interested in the kidney market lol. Thanks for all your replies so far.

Just curious if out of state investment are not recommended due to the fact that you can’t oversee the property yourself. Anyone here who does out of state investment have any insights ?

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