Play in the Minneapolis market?

[Tom Makinen]

In search of a market that can pass the 1% test, it seems to be Minneapolis might be close as they have houses in the 150K-200K range that can rent for 1300-1700.  They have super low inventory for rentals, which would help in any vacancy.  They also have a hot housing market with limited inventory, so there seems to be more play for appreciation.  On the flip side, the houses in that price range is 100 years old.  Most of them are in bad areas, so the potential of having repairs will be high.  Also with their crappy weather, maintenance could also be bad.  What is everyone's thoughts on it?  Is there any old neighborhood that is getting gentrify?  

Oh yeah they also have high taxes, so you are basically adding $20K to the cost of the house.