@Ryan Wamsat If you'll PM the address, I'll look at the home, history, area, rents, etc and see if it passes the smell test.From the numbers, I'd guess that you're looking in either the South Coast (Fall River / New Bedford) or well west of I-495.  

Since I do not have much experience in researching markets, I would like to start in the Riverside/Moreno Valley area as a starting point.

House hacking is a great idea and there are some decent places that I would consider finding a 2 or 3 bedroom on the island. also consider looking out in Jersey, PA or the Hudson Valley.

Ideas have been presented, i.e. need to complete an exchange - who knows - but it's fair game to point out that someone may be doing the best deal that works for them right now and it might not be all about cash flow.Example: I have a friend in Silicon Valley; he and his wife have high income. 

@Byran Hyatt, great schools in East Lyme:https://www.trulia.com/p/ct/niantic/34-36-lincoln-...Deep River and Essex are also wonderful:https://www.trulia.com/p/ct/deep-river/91-w-bridge...https://www.trulia.com/p/ct/deep-river/10-high-st-...https://www.trulia.com/p/ct/essex/7-high-st-essex-...https://www.trulia.com/p/ct/essex/50-s-main-st-ess...https://www.trulia.com/p/ct/essex/55-s-main-st-ess...Schools aren't as good in Stonington, but it's my absolute favorite town in SE CT:https://www.trulia.com/p/ct/pawcatuck/63-moss-st-p...https://www.trulia.com/p/ct/pawcatuck/45-pawcatuck...

The initial challenge is finding units that have the right rents to make it considerable.The closer to Universal or Ventura Blvd, which is the Valley’s version of the Sunset strip, the higher the rents.

The towns of Morongo Valley, Yucca Valley, Landers, Joshua Tree and 29 Palms. 

I live in the lehigh valley and know it is very hard to find a rental property right now.Has anyone purchased properties out that way or have any info on that area.

Preferably in the san fernando valley.

@ChristaA large river, The Cape Fear River, runs alongside east Fayetteville.