Advice purchasing a rental investment property

[Carolyne Rattle]

Hey guys,

I was reading a lot of your previous posts.. I have $50k that i want to invest in a property in the states... i live in Florida, Miami.. but am open to purchasing a rental home elsewhere. I do not trust the market here and think now might not be the time to buy here while prices are so crazy.

I saw that a lot of people mentioned taking the $50k and putting it as 2 down payments, or refinancing etc but my issue is I can not get a conventional mortgage, and the hard money i can get is @ a rate of 10%

I was thinking that maybe Gainesville might be a good area, close to the uni, or other uni towns people might recommend, however not sure there will be much capital appreciation, even thought the monthly returns seem to be between 8 - 10%

Thoughts???