Need Help with best MA location for second home/investment/rental
Hi everyone, I currently own a home in Washington, DC, and I think I have about $100,000 or maybe $80,000 in equity I want to leverage to buy a second home, which I would operate like a rental though would want to keep a room or basement space for myself as well. I would like to be under 1 hr to Boston, preferably near a train, and potentially near a beach. I am looking for either a single fam home around $250 to $300 or a multi unit from $350 to $450. I see that Lynn has properties near a train station and beach - does anyone know if Lynn has a solid rental market, or any chance of improving home values over the coming years? I also see Salisbury could be a good option for my price range and near beach - does this have a decent rental market and any chance for improving home values? Does anyone have suggestions for the best cities in my price range and with opportunity to rent and have a bump in home value over the next three years?
Side note- I also know nothing about how to use my home equity to get a second home, so any advice on this process is welcome also.