Austin or Montreal - first rental

[Andrew Krelove]

A friend and myself are looking to purchase a rental (first one). I'm currently living in Austin (I'm Canadian) which is booming and hes back in Montreal. He's leaning towards a purchase in Montreal but I'm seeing a bigger opportunity here with all the migration of tech and people flooding from other parts of the US. Canadian housing market to me seems inflated but I'm no expert I just have a hard time seeing prices of $600-700k for 30+ year old buildings when you can purchase something half the price and age which IMO would cut risk in repairs - I'm curious if anyone had thoughts or perhaps have looked into Austin & greater area as a place to invest yourself. If you had to choose a spot to invest today where would you pick?

Appreciate any feedback.