Build - rent - refinance -repeat. in columbus ohio you are buying old houses that are 1900 or 1920 or 1940 and you are in a sellers market. on the other hand you can source land which is a buyers market and build single family homes or duplex or triplexes that will return by renting and pulling cash out on a DSCR loan and doing it again. there aren't a lot of strategies that do this. flipping is different. so many risks. but when someone has a well oiled machine it's all good and less risk.

I would recommend starting in your backyard and hone your skills if its possible, I know some markets have an extreme HCOL which may make it unfavorable in your case.

.- Short-Term Rentals in Non-Traditional Markets: Secondary markets like Florence, Alabama, are ideal for short-term rentals.

Two other things to note about #401kloans:Possible benefit if the stock market turns south, the money outstanding against your 401k loan is no longer invested into the market! 

Here's a decent video teaching you how to take marketing photos.

You can arguably make it work in any market.

It is probably worth your time to connect with BOTH @John Warren and myself since we are both managing brokers, but John is more focused on property management and I am more focused on general contracting, but we are both Chicago investors as well.Oak Park and Lawndale are definitely two different markets.

This is effectively legislation to open up the market to new prospects. 

I've helped 6-7 different investors move money from Oregon to Wyoming in the last 15 years and they are all happy they made the move.Consider finding a market that has a better long-term outlook, economically and legally.

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow.