Jacksonville, Cincinnati or Phoenix for Buy & Hold?

[Trevor Baker]

I'm in California looking to invest $40-$100K in some out-of-state properties. I'd like to get some long term cash flow out of them. I'm open to SFR's or multi-family. I run another business full time, so I need to be fairly hands off. I've heard good things about Jacksonville, Cincinnati and Phoenix, so I'm digging a little deeper into these three areas.

I've been referred to what looks like a good contact in Euclid, OH who can find, rehab and manage some SFR's in that area. But, before I put too much effort into that area, I'm wondering if there may be a better upside to Jacksonville or Phoenix. Phoenix doesn't have the super cold weather that could delay renovation work in Ohio in the winter and is much closer to me.

Of course, I know that every deal is different and I'll run the numbers before investing.  But, before I start digging in, any advice as to which of these areas looks better in the long term?