Hi all, I am familiarizing myself with at the Albequerque market and wondering whether any local investors can shed some perspective on overall property values relative to rents in the area.

@Joshua Piche with little experience, it's better that you invest locally vs OOS - unless you want to invest a LOT of time learning another market and networking with th right people.Locally, look for a 2-4 unit property that will qualify for FHA 203(k) financing. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Detroit is very much a block-by-block city, so having local knowledge is absolutely critical.

You must hire locals who are familiar and acclimated to the culture of the city you plan to create rentals in. 

I also personally know students who have worked with Lee Arnold in my local area.

Look for a local credit union that can offer a cash-out refinance once the work is done, ideally with minimal seasoning.

there are ways to get guidance, especially if you are local.

Quote from @Devin Slone: I live in Huntington and was looking for local meetups to go to and I just stumbled upon this post!

You will need someone more local who is incentivized to be available to do showings and handle issues.

Should I find a local agent or use a lawer?