Investing in CIncinnati

[Rudy Manna]

Hi,

I am from Seattle and own couple of rentals here. As you might know the property market is booming and hence and cash flow on rental properties is terrible (4%-5% gross cap rates). 

I am looking into elsewhere in the country for returns and diversification. I went to university of Cincinnati, so I am somewhat familiar with the neighborhood. Checked some properties in MLS and 4 br/ 2 unit multifamily units going in the range of 100-150k. The current rental rates for a unit are $800-900. Overall looks its reasonably easy to get 15%-20% cap rate and a strong cash flow.

I know that I need to avoid a few areas with high crime rate such as vine, Over the Rhine,  etc, but are there other trade-offs for real estate investing in Cincinnati. Look forward to hear from experienced investors in the area.