$400-$500k Small Multi-Family Property Locations?

[Eric Yu]

Hi y'all!

I had a better year than expected in RE sales, so I'm looking to minimize my tax bill by buying a small multi-family property. I've primarily invested in CA / WA so far, but I'm open to exploring other areas (midwest) as well. For this one, I'll be optimizing for a cash-flow play. 

Ideal criteria:

1) Cash flow neutral @ 20% down 8% interest rates as a long term rental

2) Has option to convert units into short or mid-term rentals to juice up cash flows if I want. 

3) Within 1.5 hours driving distance to a larger metro area. 

Open to a project that requires some rehab (mostly cosmetic, kitchens, floor, paint, bathrooms, etc.) 

Any suggestions for cities/places to start digging around?

[Austin McClain]

Columbus fits that buy box. The city is seeing growth from the arrival of a $20 billion Intel chip plant and other businesses expanding like Amazon and Honda.