Nashville or Toledo?

[Tina Gionis]

Hello, I'm a newbie wanting to buy my first, multi-family, investment property. I am deciding between Nashville and Toledo as I have connections in both cities. I am drawn to Nashville as it's a booming city with many opportunities. The value of property has skyrocketed over the past decade. However, houses are becoming increasingly scarce and expensive. 

Toledo, on the other hand, has fewer opportunities than Nashville. People aren't moving there like they are moving to Nashville (thousands of people move to Nashville every month.) The price of property doesn't appreciate like it does in Nashville. However, there is more inventory and it is much, much cheaper to buy in Toledo than it is in Nashville. 

Is appreciation a better factor in making the decision to buy an investment property? Or is it cash flow?

I'd love the opinions of people who are more experienced than me, to help me make this decision. Or at least to point me in the right direction in how to get the information to make the wisest decision. 

Which would you invest in?

thank you!!