Just because it looks like a cheap deal, the numbers look good on paper...do your research and make sure it's a solid market with a diverse economy with potential.  

If you select a market with population growth, jobs and wage growth, a balance between supply and demand and a diverse range of employers you will do just fine.

Typically the more diverse the local economy is the stronger it is.

@Joe VilleneuveLong term goals are simple, excellent and diverse positive cash flow and assets to fund a somewhat early retirement.

Some of the basics to look for in a area are:Population growth Job diversity Crime ratesCost of homes vs rent priceJust ask google about the first two and most of the bigger listing websites can give you the last two....realtor.com trulia.com Zillow.comHope that helps.

I live near Cincinnati, so I'm biased, but I believe Ohio is a great place to buy-and-hold because you can find affordable rentals that cash flow well and Cincinnati and Columbus are economically diverse and stable.

Then you just need to come up with the action steps related to these goals.When analyzing markets you want to look at things like population growth, job growth, a diverse economy and shortage of housing which Atlanta has in spades.

I like the diversity of the market and the prices aren't astronomical.

Jake and Gino have a very handy post here 5) We look for industry diversity, job growth, population growth, rent growth without major vacancy growth, new construction (but not oversupply) and other factors.

Cleveland has a very very slight year over year population growth decrease, about .3% per year, but our jobs are actually growing.Also our business/employment industries in Cleveland are rather diverse.