How can I find the most landlord friendly market to invest in?

[Joe Cox]

How can a newbie investor find the most landlord friendly states, cities to buy small multi-family buildings (4-10 units)?

[Erik W.]

My list isn't as comprehensive as @Account Closed's, but I can tell you that Missouri (my state) is fairly land lord friendly, and in my view friendly enough as well as well-priced to be a great investment decision.

In my town (Springfield, MO), a 2 bed house, liveable "as is", can be bought for $30K-$35K and rented between $550-$600.  If you look harder, you can do better.  The 2% Rule is very doable here, and 1% Rule is settling for low-hanging fruit.  Most times you can get 1.5-1.7% without trying hard at all.

Evictions typically take 4 weeks from the day I file papers to the "curb" set out date.  I can accept partial payments without resetting the court date.  We do not have any restrictions on when we can do lock outs due to weather, holidays, or anything else.  The max a tenant can deduct from rent for a unresolved maintenance issue is $300 or the cost of the repair, whichever is less, and they must follow a very clearly defined legal process before they can deduct a penny.  Basically, you have to be a total slum lord to ever get adversely impacted by it, and that's only if your tenant is diligent enough to follow the process, which 99% are not.  We have no cause evictions/lease terminations, and there are no laws preventing land lord retaliation.  You can charge up to 2x the monthly rent for a security deposit.  No town in the state has rent control or restricts land lord screening tools.

So, just a few specific examples to consider.  We have three large metro markets (Springfield, Kansas City, and St. Louis) and several medium markets (Joplin, St. Joseph, Jefferson City, Columbia) so there's a lot of opportunity.  We are also a low cost of living state, so easier for investors to enter with limited funds.  

Why did I give you all of this info?  We're the "Show Me" state.  I won't ask you to trust me or the Interwebz...I'll SHOW YOU why I love my state!

P.S.  Plus we have a Superbowl winning team...go Chiefs!