Say you had $400K to invest for cashflow. Where/what do you buy?

[Maria D'Aura]

I'm ready to make another purchase. I'm looking primarily for longterm cashflow. I'm in California, but open to out of state investing. I've been looking at my options in California, southern washington state, and St. Louis where I have connections. What other cities should I consider and what are the pros/cons you're aware of?