Investing in Peoria, IL from out of state

[Rajmohan Rajasekaran]

Hi BP, I am a New investor(Out of State) looking to buy a rental property in Peoria, IL.

I have a few questions on the same, hope fellow investors from that area can answer.

1. How is the Market in Peoria now? I see properties sitting for months. Is it always the case? Any thoughts?

2. How is the economy ? Any major employers/companies in that area? How easy it is to rent a SFH or MFH units (assuming units are in good condition)? Does it take months?

3. Any specific areas/pockets i should avoid investing in Peoria?

4. Since I am Out of State, I would need a Property manager. Any suggestions on good property management company in that area ? If you have, do they handle one property or I need to have multiple properties(any min requirements)?

5. About property appreciation, I see lot of properties are either stayed the same value for years or even decreased. Any thoughts on that?

6. How is the Landlord laws in Peoria ? I saw on another thread where @Steve Sanchez mentioned about some peoria landlord association facebook group. I could not find it. May be some can share it here?

Appreciate all your help.