I am a general dentist in the Akron area looking into purchasing my first rental property (specifically condo's). The locations I am looking into right now are Conway, SC and Titusville/Melbourne, FL.
What drew me to these locations are the lower costs of condo's relative to the greater Akron area, as well as the properties are sitting on the market much longer than in my area, and overall higher monthly rents. The drawback I have is that it is difficult to pounce on properties that are still selling relatively quickly with the commitments I have to my patients in my dental practice.
What advice would you offer to someone with no experience to date with rentals in terms of selecting the best location to look for properties? I have had several friends suggest that it would be wiser to start off with rentals within driving distance of where I live. Just curious and would appreciate brutally honest thoughts. Thanks!
