Multi-Family Investing in Quasi-rural vs. Urban Areas

[Dan Wilson]

Hello BP members.  I'm a new investor in Minnesota looking at my options for multi-family investing.  My question is this: will I be able to find viable properties in areas 30-40 miles outside of Minneapolis/St. Paul?  Obviously, there are fewer properties, fewer employers, less demand for rental housing, as opposed to high density urban areas,  but I'd like to stay within a reasonable distance from my "starter property", as I currently live NW of Mpls., about that distance away. I've read in many posts and have heard from many experts about the huge number of properties that must be analyzed before you the find "the one".  I don't think the supply exists out here to provide me that luxury.  Conversely, I don't want to sacrifice making a prudent financial decision for purposes of geographical convenience.  I'd greatly appreciate hearing from anyone who may have some insight on this topic and who may invest in a similar environment. Thanks!