Investing in Atlanta, GA and surrounding areas

[Josh Harris]

I currently have around 200k in cash that is yielding 5 percent in my brokerage account. I'm thinking of using that same money to potentially buy a rental property that could yield more and appreciate in value over the years. I figure it could be a decent time to buy soon while it seems to be somewhat of a buyers market given high rates as I could be cash buyer. I am however, a total newbie when it comes to real estate investing and it would be my first rental. That having been said, I want to avoid any rookie mistakes. I'm in Atlanta, GA which gives me fewer options with that budget unless I go with condos with HOA's that allow rentals, or venture out to towns outside of Atlanta like Macon, GA, Athens, Lagrange etc... That having been said, are there any tips from experienced investors in Georgia with suggestions of where I should be looking to buy? I even get tempted out of state in places like Alabama, South Carolina because real estate is so much cheaper there but continue to hear its best to have a rental around 45 min away or so.. Any tips/insight much appreciated! Thanks so much!