A good undertapped market is LaPorte, where it is still possible to find good real estate deals, and at the fringe of your 100 mile search area is South Bend/Mishawaka which is home to Notre Dame and has an awesome and active FB investors group.

While that is a nice fringe benefit, it should not be the focal point of this decision.

Me and my realtor discussed that because it is on the fringe of the areas that have been gentrified, it has a lot of room for growth.

In Reno NV, we are seeing properties in the 300K range that are in fringe neighborhoods where the surroundings are being redeveloped with new apartments and close to the hot spots in the city. 

Cypress Lake seems to be on the fringe - decent price to rent, good schools, slightly worse in the crime department.I'm out of the area and would love to get feedback from people in the area.

The new soccer stadium is being built on the fringes of OTR and the West End- this area is blowing up and will continue so for the next 5 years as he stadium and team arrives in 2021. 

There has been a helpful array of perspectives branching out into various fringes of the topic.  

@Ceasar Rosas  Im personally looking at similar size deals (4-8 unit) in "fringe" neighborhoods, and also represent several buyers looking for slightly smaller properties (2-4 unit).  

However, in terms of managing a LLC is far easier compared to S-Corp.You can issue fringe benefits (employee health insurance and the like), stocks, etc with a S-Corp while the same cannot be done in LLC.

Look for properties in fringe neighborhoods.