First time buyer pre approved for 240k where do I buy?

[James Emerson]

Hi everyone,

Hope all is well,

New member to BiggerPockets here but long time viewer. I'm looking to purchase my first investment property in the next few months and wanted to get some guidance / opinions.

I'm not from the US, Im from the UK, but studied in Chicago. When I first considered buying in the US I considered North Chicago as I know and like it but I'm aware of the high property taxes and question the longevity of the market there with a declining population and all that.

I live overseas currently so any purchase will be remote for me and I will get it managed, I may never even see the place so I'm quite open to where I could buy.

I wanted some thoughts on the best places to invest? In terms of yields, capital appreciation, and taxes.

I was considering Dallas TX and Tampa Florida as of right now because I feel they're both strong markets and favourable tax situations. I'm pre approved on 240k and looking to secure something in the next 2 months. If anyone had any thoughts I'd love to hear people's opinions and whether there's anywhere else I should be considering?

Thanks,

James