@Pete TarinCheckout the data on vestmap.com, it allows you to search any location and get the DISCERN factors at a glance including income, crime, schools and neighborhood indicator stores.

The gross amounts usually include cleaning fees, which you then pay right out to your cleaner, so factor that in when you figure out your net. 

There are more factor to look at than the cap rate.

I know that sounds crazy, and you and I would never think to do it, but people do.At the end of the day, inheriting tenants is a gamble and risk you need to factor in.

This may not seem like a big deal, but it is something that you will need to nail down and factor into your analysis.

The biggest qualifying factor is positive cashflow.

However there are more factors as well.

Those are not the only states but they have been a very Hot market lately.You will find a better price to cash flow ratio in those states due to multiple factors. 

Take a peak into options for real estate investing and see what truly piques your interest (long-term, mid-term, short-term, storage units, fix and flip, live and flip, buy and hold, and I can go on forever).

Appreciation is a bit riskier since it depends on factors we can't always control, such as school levies passing, business success, crime reduction, etc.In my opinion, it’s hard as a newbie to jump into appreciation properties, as they require a lot more initial capital to acquire.