Moving home and looking for real estate Information

[Nicholas Gaetano]

Hi everyone,
I am new to BiggerPokets and Real estate investing.  At this point, I'm trying to get a feel for the long-term rental market in the Utica and Syracuse, New York, area. My wife and I are from the area and will be moving back this summer. We are familiar with both cities, but we have been out of state for 10yr, and a lot has probably changed. My two big questions are 1. Is one city better than the other for rentals? 2. Is it still tough to generate positive cash flow in upstate? However, any wisdom that is shared would be appreciated. 

[Jin Lee]

Syracuse and Utica are both great for cashflow, less exciting for appreciation. The biggest things to watch out for is the area you are buying in, and the condition of the property. Syracuse is very spotty crime wise, there isn't a cut and dry good and bad side of the city walk the area, talk to neighbors and get a feel for where you are buying (unless you don't care about that).  

Condition is a big concern because Syracuse is an aging city with a lot of 100+ year old rentals with large amounts of deferred maintenance. Trust me, I'm about $20k and counting over my initial rehab estimate because the last owner hid a lot of problems and I wasn't yet experienced enough to catch them. 

I'm a novice but always happy to chat REI with locals if you want to connect. Good Luck!