Looking to invest- Choosing between three locations

[Axel Scaggs]

Hi everyone, I've really enjoyed all the info I've found on this site! I have a few questions for some of the investors on here. I'm looking to invest out of my home state, Texas, and have narrowed it down to 3 markets. I'm open to other suggestions as well, but especially interested in any info/suggestions regarding the markets listed below. Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.

Peoria, Illinois- Great need for lower income housing, market appears to have many options.

Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters. However, looks like there is a harsh line as far as what locals can afford and if you go over that, vacancy is high.

Watertown, NY- I’ve seen many great multi-family properties in the low to mid 100s. Rents seem high and in demand as well. Not sure what I’m missing here, seems almost too good to be true.

Any insight, suggestions, or general thoughts! Once again, love the site and community here thanks everyone!