And because we have very little new construction, the inventory that we have today is basically all we will have at least for the next 3-5 years.

New builds have been a fantastic option recently because they HAVE to sell their inventory no matter the market conditions. 

Then once you build up a general knowledge base and understand your exact strategy and the inventory available in your market then you can ask more specific questions to help you along the way.

I live in Southern Oregon currently and what little inventory we have here is massively overinflated.

Rents have gone up quickly in metro Chicago area, but there seems to be more open inventory than the last couple of years.4. 

Some cons: no equity when you purchase, some times you will pay more than the property is worth, long waiting list, low inventory, and  lower cash flow.I tend to lean towards advising investors not to go the turnkey route but if you have access to a lot of capital and have very little time then turnkey is going to be your best option.

Sounds like you have a solid plan.Everyone starts somewhere.Lots of apartment inventory coming online so I'm sure you can find a 6-7 month deal. 

., how much cash do you have to deploy and what is your price range to purchase, do you want to invest locally or at a distance, what ROI are you looking to get on your investments and does the inventory in your market support that, are you looking for turn key or are you trying to force equity into the property, are you looking to house hack or are you doing a 20% down and rent it out right away. 

NYC duplexes/townhomes, Williamsburg, Cobble Hill, Fort Greene, Long Island City, Astoria, Middle Village, Mott Haven, etc.The areas with the best potential cashflow/cost of living savings will likely be neighborhoods with more active inventory and more turnover - i.e.

Feel free to check out current inventory here: https://renttoretirement.com/inventory/KC is a great market.