@Michele VelazquezI would also highly recommend Houston Texas.I personally have rentals in Houston and the surrounding areas of Spring and Conroe.These areas tend to command quality tenants and they have great schools.Also real multifamily investing is very vast and learning about it as much as we can always helps.A local Investor-Agent can help shorten your learning curve and save you a lot of headaches as they tend to understand the market better.All the best!

Aaaand it's the "THE SKY IS FALLING" post of the week, yet again.......I get it, fancy people with grand titles speaking of all there superior command of the numbers and math and what not, that they have there crystal ball upon "The Hill" and we simple-simple people just need to turn off our brains and follow. 

I felt this was a temporary situation as a few strong sales would allow these neighborhoods to rise to the prices commanded by similar neighborhoods throughout the metro area that were not similarly afflicted.

Homes right on the beach can command even more!

So, I also have been trying to make some cents of this.. you can find 4 plex's and 8 plex's selling for $130k per door (+- 800 sq ft) in a market that will pay up to $300 per square foot for 1 bed 1 bath homes (300 x 800 = $240,000) 2 bed @ 215k, 3bed @ $211k and 4 bed @$193k  found here  http://www.trulia.com/real_estate/Highlands_Ranch-Colorado/market-trends/Thus, the problem is why build a small apartment complex on open land that may command $150k per door with fewer exit strategies and smaller group of buyers, when you  can build townhomes with similar footprint, with a similar door count, a much higher sales price per door, multiple exit strategies and the whole population is your buyer. seems to me the most equitable use of soil would be to build 3 stories with the first story being single floor unit and 2nd and 3rd floor being a 2 story townhome type or condo look to allow for individual sales and possibly sell the vertical units as live in one and rent the bottom.... ah that was a cool thought  ...  

Student rental leases seem like they can be very profitable considering you can command higher than market price rents in the same house as if you did a traditional lease.

I am a real estate agent and investor in the Houston market.Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.Rent growth and appreciation is steady.These cities tend to command quality tenants, and they have great schools.Get in touch with a local agent or investor and shorten your learning curve and save you a lot of headaches as they tend to understand the market better.All the best!

They can be rented but my 3/1 are slower to rent and do not command as much rents.

If not it’s time to get a new tiene at at the market rate if your property can command it.

As mentioned above, Portsmouth is outrageous, but commands a very high rental market.