Where Should I invest for 7% Cap Rate and 3% Annual Appreciation?

[Lance Knapp]

Hi All,

I am a first time real estate investor approved to buy a property that is about $1MM. I am from West Los Angeles, CA, which is a market where cash flow is hard to come by. I have decided I may need to invest out of state to reach my investment criteria. Does anyone have unbiased advice or some ideas on where I should invest if I am looking for a 7% cap rate and 3% annual appreciation (if that deal exists).

Thank you in advance for any help, I really appreciate it!

-Lance