I look for affordable markets that have low to moderate property taxes and are landlord friendly (obviously not NYC, Staten Island).

Low to moderate property taxes, 7.

Seeking a combination of passive cash flow and moderate appreciation.

Start by identifying states with low to moderate property taxes and insurance and favorable landlord tenancy laws.

Word to the wise, make sure it's a fund that is investing in areas forecasted to see short and mid-term growth, such as some regions of Arizona- due to tech and other moderate and major major new business inflow.

I'm looking to do an owner occ/house hack because this is the most reasonable way for me to get in the game with moderate cash reserves. 

On the flip side, they also offer moderate returns and minimal upside.

Speaking for Ohio,Dayton normally has the best cash flowColumbus normally has the best appreciation Cincinnati is moderately between the two Feel free to reach out anytime if you want to invest in OhioBest of luck! 

For a “moderate “ risk private real estate deal knowledgeable, experienced investor want to see a believable return of 12% +.  

From a scale of 1-10, 1 being in the ghetto and 10 being in trump tower, you need to figure out what you will be ok working with. 1 with get you high cash flow but slow appreciation, 10 will get you no cash flow but high appreciation and maybe 7 will get you a small break even with moderate appreciate.It all depends what you want and not what a city could give you because there BRRRR are all over the USA