Anything worth buying would be $200k+ with most rent in the area going for $1,000 per month.

There are a few options that some people have used when they were looking to buy a new home before selling (and ran into DTI issues). 

However, I would not buy in the areas you mentioned too expensive.

Most of the residential buying opportunities are long gone even when buying cash.

Buy places in nice areas because those also tend to weather downturns better. 

The tenant has been a problem from the beginning, such as behind in rent for a year, buys a brand-new Jeep, lies about ex-husbands job, child support, court cases, etc...Now, the house needs a new deck, so I went up to inspect it.

Hello Everyone,I am trying to buy a Condo (2 bedroom 1 bath).

That is, would you buy a million-dollar property to make $100 even if that represented an infinite return on investment?

Not to mention, where should I buy first?

I prefer under-valued, distressed, poorly managed, properties needing updating/rehabbing in markets where I can buy at a discount and build equity and cash flow for my time and investment.