I wanted to see what markets have both a relatively high rent-to-price ratio and high appreciation.

When choosing a location for your first rental, it’s great that you’re considering factors like crime rate, population growth, employment rate, and price-to-rent ratio—those are all key metrics.

You are right about high risk of default.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Columbus also has great macroeconomics - lots of job growth, population growth, and major employers developing here.

As is often the case, it harm low-income populations most.

@Denise Lang Starting your real estate investing journey out of state can be strategic given California's high costs and tenant-friendly laws.

Syndicated deals can be opaque, with high fees and limited control for passive investors.

Of course they're not going to be in Charleston or Clearwater or San Antonio; they're going to be mostly in midwestern areas that are dying for any population growth.

A lot of my out of state real estate clients really like this market because the macroeconomics look so good for this market - population is growing, job growth is growing, and so many companies moving and developing here.