First long term rental investment

[Ajay Renga]

Hello!

I am new to BP and thrilled to meet you all virtually. I am based out of IL and own our primary residence in the Greater Chicago area suburb. Looking to buy our first rental investment, preferably long term as I am a buy and a hold investor. The high property taxes in IL (2nd highest in all 50 states) combined with high interest rates now, kills any positive cash flow, so looking to invest out of state. Budget $300k or below and SFH. Ideally looking to make $300-$500 cash flow monthly, with some decent appreciation of the property over time.

Preference is sun belt states with low property taxes. Any suggestions and ideas are appreciated! Thank you!!