Investing in Lima, OH - Market Trends
Hello! I'm currently considering out of state investing in a portfolio of duplexes in Lima OH. The cap rate is far better than what I can find in Washington State, and the units are fully rented. I'd be using a local full service management company.
However, when researching this market, I see some signs that are concerning. Higher crime rates, some population shrinkage, etc. http://www.city-data.com/city/Lima-Ohio.html
How concerned should I be by this? Does it make sense to invest when I can make my money back in three years, even if the thirty year outlook doesn't look too bright? What other advice would you have for evaluating an investment in this region? Thanks for any insights!