Which price point is best.

[Barrett Howell]

I’m working to find my first rental property to purchase in the LR area. I plan to rent it for a while and then refi. Would like to eventually be buying 4 or 5 a year before moving into multi family or commercial. My question is, do I look for $150K + with minor to no repair needs or go with the $100K and below price point which more than likely will need major repairs.  I want to get as much out of my capitol as possible. Thanks for any help.