Newbie. What market? Please help!

[Andrew K.]

I am a newbie to this and am looking to start by purchasing 1 low priced house to rent. If successful, my plan would be to buy one extra house per month. 1) if you could pick the best area in the US to do it, where would it be? In told Ohio.....thoughts? Why are you picking whatever area you state? 2) realistically, how much could I bet profit per month per property? 3) what resources would you suggest I go to for more info? Thanks so much!!!!

[Susan Maneck]

Ditto on that. You certainly couldn't buy a house a month in San Mateo, but sell your house there and you can easily buy ten houses here in Mississippi. As Andrew says, the issue is whether you are looking for cash flow or appreciation.  You'll probably get better appreciation in Ohio but for cash flow, Mississippi can't be beat. A house costing 30-35K will net you rents of $800-$850. Where else are you going to get that kind of a return on your investment? But mind you, you need to live down here for that to work. And San Mateo to Mississippi can be quite a cultural shock.