where would you invest $150,000 for buy and hold?

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Hi everyone!

My name is Rudi and I've recently moved to the US from Australia. I've got about $150,000 to invest in some buy and hold properties and looking for some advice. At present I'm considering:

- Pueblo, Colorado

- Garfield Heights & Maple Heights, Ohio

- Montgomery & Huntsville, Alabama

The reasons for these are that property is still fairly cheap (homes can be bought for under $60k) and returns seem to be around 15-20% gross depending on the home / market.

I live in Colorado so Pueblo is the closest market to me but some of the above have even better returns. I'm not afraid of owning property out of state as i own real estate in Australia currently 

So, my question is, can anyone with specific knowledge chime in regarding the above and secondly, are there other areas around the country with similar opportunities that I should consider?

Ideally i'd like to buy between 3-4 properties and then grow from there.

Many thanks for your help!

Rudi

P.s. if anyone is interested in investing in Australia i'd be happy to help - i don't have knowledge of the US market but have about 15 years experience in Australia.