Investing in Raleigh

[Michael Sawers]

I am about to start a new project in Clayton, NC (30 min south of Raleigh).  I move to the area on October 1st.  My wife and I plan to purchase a house/townhome as our permanent residence which we will live in for the next 2 years.  After that, I would like to put it up for rent.  I am ok with commuting up to 30 minutes, so the areas I've been looking has been from the mid Raleigh area (draw a line from NCSU through downtown) all the way down to Clayton, NC.

My fear is purchasing a house which doesn't appreciate at all, having trouble selling quickly, or having trouble finding a renter to cover all costs of the house (including a property manager).  I've done plenty of research on the rental aspect of this, but I've never actually purchased a house.  I also hate the idea of buying a house at market value, but in Raleigh, it seems you have to buy them for above market value.

Any suggestions?

Thanks,

Mike