Where to invest?

[Michael Stole]

I am in Ottawa Canada, but used to live in Indianapolis, and my family is still there. In Indianapolis, houses are cheap but rent is ok. A 100k house can rent for $1500.

I have some cash in hand now ($300k), and am thinking of investing in some SFHs in the US, for cash flow right now and hopefully also for capital gain in the near future.

Ottawa fails in terms of cash flow. The price is too high compared to rental. Indianapolis does not stand out in terms of capital gain. Still a lot of foreclosures every month. And I do not expect the house price to increase in at least 3 years.

What are the other places would you recommend for RE investment? I saw a lot threads about Vegas these days.