Looking to invest 40-100k in Multi family units/apartment units

[Vinoth Amar]

I'm new to investing in rental properties, and i'm looking for good rental investments . To start with I'm looking to invest 40-100k in cash for a multi-family unit/apartments. I was looking at Cleveland, OH as rental yield seems to be good (14.67%). 

Are there any good neighborhoods that i should look into ? 

Also can you recommend any good property managers who are easier to work with. 

What is the occupancy rate that i can expect ?

[Omar Khan]

@Vinoth Amar You've received great advice from @Kristopher Hanks. Looking at the highest ROI often leads you to warzones. It's a paradox and bit like getting a loan: The bank only wants to lend to people who don't need the money (billionaires). The people who really need the money (non-billionaires) have to jump through multiple hoops.

I would also urge you to reconsider the precision with which you are quoting #s - 14.67%. Nobody, in any market, can quote you with that much level of accuracy. 

Don't look @ the return #s only but also understand the risk that goes with higher ROI (higher ROI on paper only, not in actuality) properties. There is a reason why blue-chip properties in NY, LA or Boston will always be in demand even though they might yield less income (on a % basis). They are higher quality properties with a higher quality tenant, on average, who will pay the bills on time (mostly) and not cause headaches.

As an out of state investor, your biggest impediment to success is smooth functioning of your assets. Read up on the horror stories on Morris Invest on these forums to realize that chasing these high ROI properties is a very risky proposition (esp. when you're out of state).