Investment Location Rent vs. Own

[Mark Hill]

Hi, first time here and just getting started in rental property investing. I'm looking to target my old hometown in Massachusetts (I live in CA now) as my rental investment location. However, the renters percentage is 18% (vs. 82% own). Should I consider this a deterrent for this location? Additionally, I don't see many SFR properties available for rent today. Again, should this be considered a good or bad thing? Higher demand?

Appreciate your thoughts.