Selecting a Market and Need Help

[Jonathan Leposky]

Just like the title says I am looking to select a market to purchase my first property. I live in Southern California and it's almost impossible to make an investment that will cash flow here so I'm fine going else where. I'm trying to figure out "what I don't know" that I should know before selecting a market. Obviously having a market where the price to rent ratio is favorable but what other metrics (or non-hard data) should I be looking for?

Other than price to rent ratio, I know I should consider how it will appreciate over time but I was hoping to hear how some of you guys decided on your markets (when they weren't nearby). How did you take all factors into consideration fairly?

I have a max of $100,000 I'd like to spend on this investment as it's my first. Preferably I'd spend half of that on my first one and get comfortable with the process and then do another for that same amount or go up to the full $100,000 amount. I share this as I know this disqualifies me from a lot of markets. Let me know what other information you'd like me to share that will help with any advice you have.

Thanks so much in advance and if I am breaking any of the forums rules I apologies. It's my first post here.

-Jon