Operational efficiency is also crucial; optimizing operating expenses and implementing tenant retention strategies, such as lease renewal incentives or adding desirable amenities, can stabilize your cash flow and reduce costs, helping maintain profitability even if rents decrease.Investing in property improvements, such as value-add opportunities and energy-efficient upgrades, can command higher rents and retain property value better than average units.

I am looking to diversify and derisk my portfolio by buying and holding out-of-state LTR.With your desire to find some cashflow and appreciation via LTR, then I would recommend checking out some of the Ohio markets like Columbus.

The numbers always work as long as you buy in an area that continues to be desirable.

I understand the desire to streamline operations and avoid unnecessary paperwork and fees.

I think the #1 most ridiculous poster is the person living in a desirable, high-appreciation location who has plenty of capital to deploy who asks which crappy undesirable market thousands of miles from where they live is the best place to buy their first investment property.

West Town is a GREAT neighborhood and you will see solid appreciation for sure...I've found it easiest to ask what my end goal is, how fast I want to get there, and what personal sacrifices will I need to give up to get there in the desired time.However, I am not following why you would move UNLESS YOU ABSOLUTELY LOVE  the new house and it's a PERSONAL PREFERENCE.If you want to invest why not use the 20% down payment on an investment property and stay in your current home?  

I am not looking for Section 8, so not sure if the area is desirable for non-section 8 renters?

Some areas to consider might include Hyde Park, Oakley, and Mount Lookout, known for their desirable living conditions and strong community presence.4.

I have seen some small units at $500k, but they are rare in decent areas and non existent in the desirable areas.  

I'm busy running my business and don't have time/ desire to be very active in any of my investments.