What is the best method for finding properties?

[Travis Gutting]

I am new to property investment and am currently looking into getting my first property. I have been looking on the MLS for a while now and have not had any luck. What are the best methods for finding potential properties outside of the MLS?

[Evan Polaski]

@Travis Gutting, the fact of the matter is: $100k in today's market is by and large going to land you in a "rough part of town", a MAJOR renovation, or into rural areas.

Granted, I don't know every market, but Cincinnati (my market) and Louisville are not too dissimilar.  While each person has their own perceptions of a rough part of town, in my experiences, I do avoid them.  The tenant base, on average, tends to be rougher on the properties, moves more frequently, and cannot absorb any rent increases.  All of this equates to lower returns with turnover costs, being the primary one.  Additionally, when underwriting deals, you need to account for the general idea that repairs and maintenance will be a larger percentage of your rent, the lower your rental is.  I.e. say your plumber has a fixed $150 service call fee.  That does not change if your rent is $600/mo or $1500/mo.  But as a percentage of monthly rent, you have to account for 25% vs 10%.  Same with a refrigerator replacement, HVAC system repairs, etc.

So, I am back to echoing Jaycee: first, don't be discouraged because someone else says to avoid a part of town.  Their perception is not yours or your tenant's.  
Second, if you want a nice house in a nice part of town, you will have to pay for it, so will likely need to raise your purchase price.

Third, if you want to go off-market, just know you are trading a lot of time for the possibility of maybe finding a deal.  The "typical" off market seller is someone who thinks their house is in too rough of condition to sell on-market, but doesn't have the money to fix it themselves.  So I would expect a pretty heavy rehab for off-market.  And from there, you will be knocking doors, sending fliers, cold calling, networking with wholesalers, scouring Craigslist and FB marketplace, all the MAYBE find a deal.  So it comes down to how much you currently value your time.