Im in the Metro Detroit market but while shopping Toledo I was amazed by the size and style of homes available for much less than a similar community in the Metro Detroit suburbs and it's just 45-60 minutes away.

I currently live in the metro ATL area, but have history and ties in Charlotte and Chapel Hill (Both NC).For work, we focus on logistics, senior care, and manufacturing.

The area is small but is right outside of Bowling Green (the third largest metro in KY-60 miles N of Nashville) and there is residential construction going on in the area that appears to be selling around $225k on average for a standard 3/2 home.

Detroit, Metro Detroit, Grand Rapids, Kalamazoo, Muskegon are all great areas to consider. 

Paul, and Duluth, MN, as well as the greater Twin Cities metro area and Rochester.  

@Sunghee Shin we handle over 100 S8 rentals in Metro Detroit area.The main problems with S8:1) Tenants not paying their portion of rent and utilities2) Tenants damaging the homeBoth can be decently mitigated by properly screening S8 applicants.

@Richie Thomas - Athens and Meridianville/Hazel Green, in my opinion, are not similar at all.Athens has much more potential for growth and appreciation - as @Jeff Henderson said, the job growth near Athens is tremendous, and there is a lot of folks who work in Huntsville/Madison who commute from Athens due to the amount of house/land they can get there compared to the metro areas otherwise.  

I can tell you institutional level capital or at least 95% of it wouldn't touch that kind of deal due to economies of scale, risk, population, no access to utilities, etc. urban centers is where we focus. large metro, etc. 

Also, in this metro area, new construction homes from all of the big builders are being sold complete with all appliances and blinds for less than resales. 

Many TN investors are focusing on other metro markets than Nashville.