What's the best min population size to consider when buying?

[Douglas Mason]

I am considering investing in some property in a small town in Iowa. The population as of 2018 was about 6,000. It's about 20ish miles from Waterloo, IA; so fairly close to a larger city in the state. Has anyone purchased property in small towns and was there difficulty locating good tenants?

[Tyler Rasmussen]

We have investment properties in several small towns around Waterloo including Dysart, Independence, Sumner, Winthrop, Waverly and Hudson. I'm also the broker/owner of a PM company based out of Waterloo and we reach about 30-45 miles in every direction. We've had a lot of success in small towns. For example, in Independence (population of 6,000) we have about 80 rentals and zero vacancy right now.