Novice here - Need your Advice on location and property manager.

[Brad Chatman]

Hi All,  I'm looking to build a rental property portfolio and while searching online for a good location to start my search I came by an article (link below) that had a map function that shows Muskegon Michigan with what looks to be some interesting numbers.  I currently live downtown Chicago and I'm originally from the west side of Michigan (near Muskegon) so I thought this location may be a good spot to dig into and get my first rental property. 

Any thoughts on location selection that you would pick if you were starting on your first rental property like I am?  I have plans to use a property manager to help find investment properties and manage the properties (maintenance, rent collection, getting new tenants, etc...).

Any thoughts/opinions/direction would be greatly appreciated.

Thanks,

Brad

http://www.housingwire.com/articles/36651-new-repo...

[Eric M.]

I think it is so interesting. There are so many from Cali and Canada and NY who talk about trying/wanting to build rental portfolios in Chicago because they read cap rates are great on the south side.

Here is a Chicagoan wanting to go to Michigan for the same reason.

I don't know what/who is telling all these people that the grass is greener somewhere else or that being an out of town landlord is easy, but.....it isn't. What happened to invest where you live? I have never been to a place that did not have deals and successful RE investors locally.

I have the sense that there are going to be some great deals had on the next downturn when all these out of town investors dump their properties.