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Updated over 8 years ago,
investing in 100K house in A/ B+ neighborhood or 50K houses in B-
Hi all, I am starting out to invest in Birmingham, Al area. I have found some good buy and hold properties in two completely different neighborhoods. One in Calera, Alabaster area where houses are newer, schools better and more chances of appreciations. The houses cost 120K with rent in $1200-1400 range. The other is north Birmingham area where houses are older and appreciation chances are minimal but the prices are $700-900 with section 8. Both properties are turnkey, so completely rehabbed and tenants in place. Cashflow using BP rental property calculators come out to be $150-300/month.
What would be the ideal strategy to start building my portfolio for buy and hold?
I am planning to get property management and be hands-off
Thank you for the advice.