First time investor looking for general advice

[Arturo Ochoa]

Hello everyone, I'm finally ready to pull the trigger to get our first investment property, I've done quite a bit of research and would like your opinions in a few topics I'm still blurry about. 

Investment plan: we are targeting a SFH for a LTR, hopefully generate some cash flow in this crazy market. We plan in putting 20% down (50k max + closing costs), and get an investment loan which I have found one broker with a rate between 3.75-4%. We are using the realtor we used for our primary residence. With our current budget, we are looking at houses in the 200-250k range.

1. What zones/areas would be a good opportunity for our initial investment in that price range?
2. Is there any recommendations for different bank/broker? is the rate we were given good for an investment property? 

Thanks in advance, Any other general advice is also appreciated.