Priced out of Chicago market, so where do I go?

[Allison O.]

Hello,

I am looking to buy my first rental property. I want to spend as little out of pocket as possible, and I am thinking that means I have to look out of the Chicago market and possibly out of state. Since this is my first rental, I want to be somewhat familiar with the area and have it accessible, so staying in the midwest region makes sense to me, although I am ultimately open to other reliable opportunities farther away.

So, how do I research areas with potential upside? Where can I find reliable information on up and coming areas, avoid of pure speculation? What specific factors do I look at to determine a market is up and coming and where do I find this information? Google gives me too many differing opinions; rental income is my main goal, although I would like to see some appreciation in the rental I choose- I don't want to be upside down in an un-rentable property in a few years if the area tanks. 

Thanks!

[John Warren]

@Allison O. I am curious why you think you are priced out of the Chicago MSA? There are so, so many sub markets within the Chicago market.