What is a good return in Bakersfield, CA?
I hear the 2% rule tossed around, i.e. buy for $100k, rental rate should be $2k per month. Unless I go to the parts of town I don't want to have a buy-and-hold rental in, I'm looking at more the 1% to 1.25% range from what I can see.
Any advice on this? I hear the Bay Area and LA/San Diego don't cashflow much.
I want to get some experience under my belt in places I know first, then branch out to other states. Thanks for your help.