potential investor

[Kyle Sharper]

hi guys/girls,

I am interested in owning a home in my town with the desire to rent it out within 5 years of me living there. Majority of the homeowners in my town are paying way more in taxes than what their property is worth (many of the businesses have moved out, the school system is plummeting, and crime is increasing slowly). I am moving out of my parents home in about a year from today and i am weighing my options of renting an apartment (for about $750 a month) vs investing in my own property while i am young (the mortgage will probably equate to what i am paying a month in rent). The homes in my town are at an all-time low and we're expecting a boom in our economy in the next 10-20 years since a port is being built now which will run along the east coast (1500 jobs have already been created)

My question is: what should i be researching right now to make the best choice possible this time next year? Since property is low now and taxes are high, is it foolish to buy or is this the time to invest?