Long Time New Yorker looking for high cash return rentals near NYC

[Yifan D.]

Found out about this site by listening to the Podcasts.

I have been living in Brooklyn and more recently Queens.  I moved to NYC in the early 90s.  I have studied and worked in the city ever since.  I work F/T for an engineering firm that can provide a complete range of land development services for developers.  I have worked on buildings that were developed by institutional or commercial owners.

I currently have 2 properties. One is a house that I live in. The other is a condo in Bushwick that I am renting out but will be selling it in the spring. The condo was bought 8 years ago so I will have a substantial capital gain if it does sell at the FMV. I am looking for buy-and-hold opportunities beyond NYC. I am looking for places that are about 2-hour drive from Manhattan. I will be using a property manager, but I still want to be able to visit the properties after work in case of emergencies. Please provide any suggestions for areas that I should be looking.

[Yifan D.]

Just a quick update.

I bought 2 houses in Bethlehem early this year.  They are rented out.

Looking for more deals in Lehigh Valley area PA.

I picked this town because I personally know another guy who owns several properties.  The prices seem reasonable too.