Hi Shruti,That sounds like my type of REI investing, feel free to add me to your Network would love to talk shop some time or help in any way.

If you do decide on MN, did a similar analysis as you a few months back in St Paul with rent-to-price ratios based on median price and median rents for each neighborhood in St Paul.

Being a one stop shop for mortgage, real estate, and property management helps us save our clients $$$ and they only have one company to deal with and one contact saves time and creates an unmatched synergy.

IMO, the best strategy for that type of individual is to purchase residential property in an area they are or can become familiar with; in an area where the neighborhood is “on the rise”, typically where demand exceeds supply and people are spending $$$ on fixing up properties.  

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

If you do something that is too high end or bold compared to what is available in the neighborhood, the exit could be very difficult 

You won't find a deal where you live for free, but if you can live in a great neighborhood at a reduced cost of living that is a nearly risk free way to get started in real estate. 

2) Your credit score3) Purchase price and down payment amountI would recommend shopping rates with a few local mortgage brokers.

If you're okay with that, you can buy in just about any MIdwest city, just make sure you know the landlord-tenant laws.We've broken down the City of Detroit's 183 Neighborhoods, can share if interested.

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