If you had $300,000 of capital - how would you invest it?

[Kelly Reynolds]

Hello Bigger Pockets Community!  My husband and I decided to do a cash out refinance to raise capital for additional investment properties.  Our preference is single family homes for long term rental purposes and we have been trying to find properties that might cashflow 8-9% cash on cash return, but I am struggling to find anything on my own that meets that criteria (we are open to any markets, but are prioritizing landlord friendly markets).  I have started reaching out to real estate agents in some of our preferred markets but just thought I would ask the question to the bigger pockets community.  If you had $300,000 of capitol burning a hole in your bank account pocket, what would you do to invest it?  What markets would you choose and why?  I would have preferred to have had some deals lined up but I figured nothing lights a fire under your butt than having an increased mortgage payment that isn't earning you anything!