Buy and Hold- Indianapolis vs Columbus, Ohio

[Jon Passow]

I hope this is the right forum to post this in (admins feel free to move it if it's not). I'm gearing up to use the BRRRR strategy (out of state investing) and start my real estate empire (insert maniacal laugh here) by buying in class C to C+ neighborhoods. I was hoping to get everyone's opinions about the two possible areas that I am looking into for properties, Indianapolis, Indiana and Columbus, Ohio.

Both cities have lots of industry, schools, and a growing population, similar median rent (around $825-$869 for 2015), vacancy rates are 5.6% for Indianapolis in 2017 (which was a drop from 2015 by almost 2%), and 4.88% for Columbus in 2015. 

I'm originally from Cleveland so Ohio holds a soft spot in my heart but I also know of a very large turnkey operation that I respect that loves Indianapolis and has had a lot of success there.

For all intensive purposes, they both look like great options and it might actually be a good idea to invest in both to diversify my portfolio. What's everyone's thoughts on all this?

[Hank Keller]

@Jon Passow - i live an hour north of columbus and have 1 SFH in Columbus (partnership), 7 in Indy and 1 in Charlotte (turnkeys) all of which are purchased through IRA's. All are performing well; right now, my best returns are coming from Indy and highest appreciation coming from Charlotte. The taxes being higher here in ohio compare to Indy is the biggest difference. Columbus property was purchased in 2011 and has turned over twice with minimal maintenance in a C+ neighborhood (Linden). Even though i live a hour north of columbus i have been doing most of my recent purchases OOS because of the team i've used.