- Property Tax is rising especially Chicago, IL Currently I am getting cap rate of 5.6% (really nice area) - 7.8 % (lower income area) cap rate in CA but some of the properties are located in not so good areas and I did have problems with problematic tenants.

For example entrance of the property is located on the area owned by another person.To solve the problem legally is costly. 

And I'm getting a first right of refusal on an A+ building in an A+ location that he currently owns.Is there anything I'm missing or does anyone have any thoughts on issues they see with my deal structure? 

I know this is a loaded question, but does anyone have any estimates or good resources to look up what part of the real estate cycle my area is in. We all know we are at the high end of the cycle as a country. However...

I'm new and located in norfolk Virginia.

I've got two parcels  (.37 of an acre total) centrally located in the pedestrian area of a small but growing town in Southern Oregon. 

I am just waiting to get the room built for placement and they will come back and move the location of it from under the house.  

Assuming you don't care about location... they're in KC metro (on the outskirts).

One of the reasons Memphis is a perennial market for investors is the availability of properties that are not in the "bad areas" and they can cashflow very well.As an OOS investor, I'd suggest that you start with the location as your 1st priority.

I haven't done extensive target area research yet, but I'm currently located in Monmouth county and was hoping to get starting in the North/Central Jersey region.