Location, location, location. 

The home is a 3/2 in a great neighborhood next to the community pool, park, and playground and located just south of beltway and and I45.We are new to the midterm strategy and trying to figure out what the demand is and the pricing. 

But the location location location was a 10.

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

AND just because you have experience and a “good deal” doesn’t mean you will be successful trying to syndicate the deal.The first criteria is does the sponsor have the general knowledge and experience in real estate, and the specific knowledge and experience in the property type/location to give the project the best shot at success?  

If your properties are all located in CA I would advise looking in states like IN, OH, FL, TN, OR, GA and a few other states depending on comfort zone.

We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

I always keep a lockbox at my locations for this purpose.

I was going to look over your numbers for you, but can you answer a few questions:* In what zip code is this property located?

Also, for those who invest OOS, do you find one market you specialize in or do you tend to bounce around and cherry pick from markets in several locations?