I doubt it is for tax reasons, since IL and NC are not much different at the state level.

This is a classic raised ranch (bi-level), 3x2, at about 1500 sq feet, built-in 1995. 

Also varies greatly on what class of homes you have / they have and the income level. 

The dollar return isn’t everything; as alluded to, the time required to manage the investment and stress level should be taken into account.

First off my goal;My line of work is changing at some point at no fault of my own (finance) and what I do (which pays six figures) is the target replacement level income TO WALK AWAY FROM THE JOB. 

That could also determine his comfort level in the area and if you'll want to start there.

On a makro level David is not wrong: we have seen this very clearly the last 2 years and above all it is the housing supply that is making it difficult.

Comfort level with the RE and property management teams.

They are all the same risk/no risk level.

@Zachary Scott IMO, I believe this could be pretty subjective but I think it would depend on your comfort level and risk avoidance regarding certain things, e.g. rancher on a waterfront lagoon in terms of flooding issues, age of the home and potential termite issues resulting in structural damage, roof condition and what could be underneath of it from leaks.