Buy in a market not too far away, 30 to 1 hr from a decent city center where values are reasonable and a city push out with help your rent and appreciation. 

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

Are there any house at that price point that would rent for $1200-1500/ month with 20k worth of updating?"

Currently rented for $1800/mo.

You can throw some tents up about anywhere and rent them for something.

Is this for a primary purchase or build to rent/sell?

Louis, Missouri-based property manager seeking investors and opportunities to property Tenant screening, lease negotiation, property maintenance, rent collection. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

And they’ve cost me alone well over $30k in damages and lost rent thanks to their complete negligence.

I would just go on VRBO (or similar) and look how people design their properties where it really matters (they are trying to rent to daily guests and design/amenities are super important.