Ohio investors: recommend a market for low-cost house landlording

[Gary Dezoysa]

Hi, I'm looking to become a landlord for section 8 D properties in the $10,000-$20,000 range. Single-family residences only (2/1, 3/1, 3/2. With section 8, multi-units can cause accountability problems). 

Appreciation is nice but not the main focus. My real concern is crime, and I know when shopping in this price range,  neighborhood and even street-level selection is paramount.

I should also mention I do not plan on remote investment – I'll be relocating. I'm fortunate not to have family related concerns and can live anywhere.

To the Ohio investors, can you recommend, or warn against, the major Ohio markets? Here is my current ranking based on MLS deal volume:

1. Akron
2. Toledo
3. Dayton
4. Cleveland

*Cleveland actually has more listings than Toledo and Dayton, but those other two have a better "deal per capita" ratio.

I'm interested in any local advice you have for me, thank you for your insights!

[Thomas St John]

Hello Gary,  

I've been investing in Toledo for 7 years now and deal strictly in the $10k-$30k price range .   The 43608 and 43609 zip codes offer those types of deals every day all day.  Crime is much higher in those areas and you can expect vandalism especially when a vacancy arises.  Alarm systems help but often do not deter people from breaking in.   I've found the 43612 and 43605 zip codes to be much better as far as tenants and quality of properties .  Either way, appreciation will be near zero.  But if cash flow is your goal, as it is mine, then those areas will work for you.   Feel free to PM me if you want specifics on particular deals or any other questions you may have.   @Ryan Pyle is a great source for info on Toled .  He has made a living for over a decade as an investor here in Toledo