Is it worth it to Buy & Hold in Tulsa?
So I'm currently house-hacking in Chicago and the prices have just gone crazy through most of the city here. I'm originally from Tulsa and still have family there, so I'm considering possibly investing somewhere in Tulsa, preferably as close to downtown as possible. I know there aren't a ton of multi-unit homes for sale, so I guess what I'm wondering is what your guidelines are for a property if you're a buy & hold investor. Do you follow the 2% rule, the 1% rule, some hybrid guidelines? One reason a multi-unit interests me is that I could have a unit as a vacation rental and have a place to stay any time I came down there for myself. I've analyzed a ton of properties up here, but I'm having trouble finding rent prices and things like that to know what constitutes a good deal in Tulsa.
Also, are there still a lot of renters? With some of the house prices, I'm not sure why people wouldn't just buy instead of rent or if renters are being drawn to specific areas.
Also, as a side note, are there any up-and-coming neighborhoods worth checking out? I know Kendall-Whitier is near the Pearl District which seems to have seen some growth (based on a short trip I took recently), but is it too soon or too late? Any other areas worth checking out?
Thanks in advance!