If you can invest locally, I'd recommend doing that before investing out of state.

I'm estimating it at just over 8%. 7.49% cap rate, 5 yr IRR 8.28%, CoC ROI 5.8% I pulled these numbers from the BP Rental Calculator @Nick Hogan So, with my CFO clients, I would then ask them the question, would you rather invest passively in the market and get an 8%-12% annual return or take on more risk and spend more time investing in real estate that is only expected to generate 8.3% annually? 

We’re interested in investing in another property in the area, but the prices are quite high.

I just looked in your area and there are hundreds of homes.Good Investing...

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

I usually try to be at 10% or more with my investments but in todays market getting a 6 or 7% is still decent. 

I have multiple SFH properties I rent here and am soon investing in another.

There are a lot of different aspects to investing, as you may know. 

Consult eviction attorney regarding commercial; I'm specifically a residential PM and commercial usually has different rules because of the nature of the investment and occupancy (tenant doesn't [usually] live there)

@Jim Coleman Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.