Investment property in San Leandro

[Harish Maiya]

Hi BP folks,

Currently considering to purchase a SFR in San Leandro, for my budget of 600K (20% down mortgage finance). My initial study showed fair appreciation and healthy rental proposition. Low crime rates, decent demographics and commute accessibility. I preferred this area since its drivable (no need of property manager), and no HOAs (like condos/townhomes) to hurt cap rates.

Visited couple of houses in Bonaire/Bal they are 1940/50s built and market looks warm.

Before pulling the trigger, would like to get inputs from the community on few points

1. Potential of area San Leandro. I considered Oakland (pricey), Richmond (safety) they didn't fit my bill.

2. Does investing out of state makes sense, (with property manager etc). I feel bay area/CA is at its peak, Atlanta/Orlando seems reasonable,  but I know little about areas there.

Please share your thoughts.