Investment in Columbus, GA for out of state investors

[Chirag Dhruv]

recently came across a couple of properties in Columbus, GA and they sounded interesting from numbers point of view. Being out of state, I would highly appreciate inputs on why it makes sense to invest in Columbus and how safe it is for out of state investors. Pointers to any resources will help. 

[Pat G.]

First, How many units is it? That would dictate having a on-site property manager or not. My research using bestplaces.net indicates Columbus population increased 8.63% since 2000, it's unemployment rate is 7.0%, which is higher than the US rate and other cities in GA. The average home price is $84,300 which is below at least $100,000. This is because you want renting to be cheaper than buying a home, if the home prices are lower than let's say $100K it may be cheaper to own a house, hence you will have trouble filling your apartment units. And also I look for a Median Income about $40K per year. Because a good rule of thumb is that people will spend up to 30-35% of their income on rent. The lower the income, lower the amount of rent they are able to pay. This is just my experience, not law. 
Sorry for getting to deep, I hope that this helps, at least a little.