Young Investor - Ohio Apartment Complex Purchase HELP!

[Garret Anthony]

Hey Everyone! 

I am a current business owner but currently own no real estate.

After some thoughtful research, I have focused my attention on investing in the state of Ohio. My reasoning is based on the average cost per unit available and the current market rent rates. I consistently see Ohio pulling in above average cap rates. I am looking at purchase prices between $550,000 - $700,000, currently, I have $200,000 cash on hand for this investment. 

I am seeking knowledge on what I should look for and things I should avoid. Also if anyone has some major RED flags for Ohio I would love to hear about them. Please give me your insights and I look forward to diving into them with you.

Happy Investing!