Once this is determined you can select the best neighborhood and asset that fits your capabilities. 

My recommendation would be to engage an investment property focused realtor (not a general residential realtor) and let that person guide you through the process from pre-qualification to market/property valuation and selection. 

Hi Garry,To ensure your safety, it is highly recommended to visit areavibes.com and select the "See more crime data" option.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Berea is a truly unique place in Kentucky, and I agree that it may not get the appreciation it deserves.

Dscr will be useful in the future for fixer uppers and unique buys. 

Instead, we provide expansive access to all of the top lenders in the marketplace, ensuring that you get the best options tailored to your unique situation.

This is a unique home and it actually has a full kitchen, 2 bed and 1 bath downstairs and I think it might be well suited as a very large vacation rental(entire home) or both floors being rented separately at some point in time.  

If I would have used competent management, the manager that I picked and vetted, then it would have cash flowed, assuming they could have filled the vacancies.The big lesson I learned is that the property manager selected can make or break a deal. 

I definitely plan on building a team in the market we select.