decent cities/neighborhoods to buy rental properties?
I presently have a rental in California ( I live in California) and it seems that the price to rent ratios in California doesn't look that great here anymore. So lately I've been looking at listings in Detroit where it seems better. I don't know the neighborhoods but have read up that bagley is not to bad but it looks like I might of missed the boat on that one. Houses there are going around 100-150k but the rents look to be 800-1000 range so that isn't to great. anyone have any suggestions for other neighbourhoods in Detroit? from what I can gather the tax rate for out of state investors is a whooping 2.6% is that correct? Anyone know a reputable property management company in Detroit.
Any other cities recommended for rentals? specifically the neighbourhoods in those cities. I'm looking for something in the 50-120k range so I don't have to put to much down and tie all my money up in one property.