Hey you Columbus/Cleveland guys I need market specific advice/encouragement.
I am very likely to be relocating back to Ohio in the pretty near future for family reasons. I've actually had some threads on here about those markets in the past but now it's looking more and more like a reality so I need to start getting real about it.
How much do you think I would need invested in either of these markets (as a new investor but who would be happy to work with others.) to generate a livable modest income cash flow of say 40k per year? Assume I'm new to these markets but could cash buy up to several hundred thousand worth of property. I'm thinking in the solid rental neighborhoods (no bad areas but not high end either).
The goal would be to find a place to live for cash near family, and use some of my remaining nest egg to fire up the investment machine and generate income. Would like to avoid needing to get a job (at least for a while) if possible.
I am just not sure if I'm being realistic, and I would need a W2 income to help bootstrap, or if you can do it without job income but whether the capital required is a lot more than I have.
Just looking for advice/encouragement. But no smoke blowing. :)