@Joel Owens - thanks for weighing on this...my question was poorly worded, I meant more how do you determine where to invest based on economic factors...for example if two houses cost the same with same economics but one is in town Y and other in town X which both may be in different states Essentially, I have looked at a number of areas and have uncovered what I think are several decent areas to invest in should the right deal present itself, but trying to narrow down to one and focus on it...so wondering how others hone in on a place to investigate and then invest?

By that time we should have uncovered most of the skeletons in the closets and have a good idea that the deal is reasonably solid.

Areas like Fountain Square and Broad Ripple have great opportunity, but from what I uncovered, Fountain Square is more of a FLIP area with low rents and rent/value ratios don't pencil with a fully REHABBED property.

While I agree the market in CA is high for buy and hold investors,  there are still deals to be had if you are willing to work a little bit and uncover off market deals. 

The luxury condos and apartments are good for our value and rents (I own/ manage a 4-plex on 3rd st just behind Rio Salado Pkwy) My 1 bedrooms rent for $775 a unit fully remodeled granite, SS appliance, laminate but this is with shared laundry and uncovered parking 600 sq/ft. 

Anytime you start doing major repairs (replacing a whole roof) you run the risk of uncovering other damage or deterioration that must be addressed per code. 

I'd love to work with a referral from the forums so I can get an independent opinion from an inspector who doesn't have an existing relationship with my providers.The more aggressive about uncovering potential issues, the better.

Not sure on who legally owns this... as it seems no inspection uncovered it when purchasing.

(I am certain that the appraisal will be higher than this asking price).On counter offer #2, the buyer has offered $102,000 with a contingency to have the pool uncovered for inspection.The pool is inground with a liner that is over 10 years old.

In other words, uncovering an opportunity in the form of a property address does not represent much added value than that.