NYC based first time investing out of state
Member since 2020 · 6 posts · 11 votes
NYC based first time investing out of state
Most Popular Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ voteswhy not stay within a couple hours of NYC, instead of going so far away? there is just no substitute for being able to be hands-on / in person. how about the Lehigh Valley in PA?
and just to be frank... with everything you listed in your post, you're looking for something that doesn't exist. there's no such thing as an off-market, turnkey, concierge service that is going to surface great deals for you before local investors get them.
hope this helps
30 Replies
- Member since 2020 · 6 posts · 11 votes9mo
@Matthew Thornton I have not, are you invested in that area?
- 9moArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 968 votes
Welcome to the group, Emranoor. You’re thinking about the right things early, which is huge for out-of-state success. For cash-flow duplexes and SFRs, the biggest difference-maker is pairing investor-focused acquisition support with a property manager who already understands older housing stock and voucher programs. When those two are aligned, remote buy-and-hold becomes very manageable. I’d suggest prioritizing teams with a deep track record in off-market sourcing, conservative underwriting, and clear communication with out-of-state owners. Happy to share what’s worked well for other investors if you want to connect.
- 9moMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
20 Questions to Ask When Vetting a Property Management Company: Processes
13 Questions to Ask to a PMC: Communication and Documentation
24 Questions to Ask When Evaluating a Property Management Contract
Logical Property Management4.9464 Reviews- Member since 2020 · 6 posts · 11 votes9mo
@Michael Smythe Michael this is a gold of information and I am not 100% sold in Cleveland just yet because I want to find a good PMC and it's so hard to find a good one and most of the reviews I am reading are horrible, would love to hop on a call and learn about Detroit market
- Investor · Member since 2021 · 8 posts · 3 votes9moThanks for the 3 posts. I will go through them.
Quote from @Michael Smythe:
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
20 Questions to Ask When Vetting a Property Management Company: Processes
13 Questions to Ask to a PMC: Communication and Documentation
24 Questions to Ask When Evaluating a Property Management Contract
How is the Detroit market for cash on cash return. - 9moDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
Quote from @Emranoor Rashid:
@Michael Smythe Michael this is a gold of information and I am not 100% sold in Cleveland just yet because I want to find a good PMC and it's so hard to find a good one and most of the reviews I am reading are horrible, would love to hop on a call and learn about Detroit market
DM us please!
Logical Property Management4.9469 Reviews - 9moMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
Quote from @Prashant Kumar:
Thanks for the 3 posts. I will go through them.Quote from @Michael Smythe:
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
20 Questions to Ask When Vetting a Property Management Company: Processes
13 Questions to Ask to a PMC: Communication and Documentation
24 Questions to Ask When Evaluating a Property Management Contract
How is the Detroit market for cash on cash return.The Detroit market will EAT YOU ALIVE if you don't know what Neighborhoods to invest in.
Agents, Wholesalers and even PMCs will sell you stuff that looks great on paper, but performs poorly in reality.
If you want great CoC, you'll want solid Class C Neighborhoods, but unless you really like to gamble, you'll want to avoid Class D Neighborhoods.
You could also look at Class B-minus Neighborhoods, but you'll probably need to invest in some improvements.
DM us to schedule a chat to explore this further...
Logical Property Management4.9464 Reviews - Investor · Member since 2021 · 8 posts · 3 votes9mo
Quote from @Michael Smythe:
Quote from @Prashant Kumar:
The Detroit market will EAT YOU ALIVE if you don't know what Neighborhoods to invest in.
Agents, Wholesalers and even PMCs will sell you stuff that looks great on paper, but performs poorly in reality.
If you want great CoC, you'll want solid Class C Neighborhoods, but unless you really like to gamble, you'll want to avoid Class D Neighborhoods.
You could also look at Class B-minus Neighborhoods, but you'll probably need to invest in some improvements.
DM us to schedule a chat to explore this further...
Thanks Michael. Will do.
- 9moIsaac RowePro MemberRental Property Investor · Cleveland, OH · Member since 2014 · 214 posts · 86 votes
Welcome to Cleveland, Emranoor. I invest in the Cleveland area and own property in 44109, and I’m happy to share what’s worked for me and pass along a few solid local contacts if that would be helpful.
- Member since 2020 · 6 posts · 11 votes9mo
@Isaac Rowe hi Isaac I would really appreciate that my friend. Please feel free to message me directly so we can set up some time to chat!
- 9moTravis TimmonsPro MemberRental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
I'm a firm believer after several years of local and out of state investing that the key factor in success out of state is quality. A and B class neighborhoods have a higher success rate from out of state. The majority of C and D class investors from out of state that I have seen end up selling within a few years and losing money.
That said, make sure you get on a plane and engage all 5 senses. And visit properties at night. You just don't get a feel or realistic picture of what you are buying with pictures and taking the word of a stranger with a profit motive.
- Member since 2020 · 6 posts · 11 votes9mo
@Travis Timmons any tools you use when doing research to determine if it's a A or B class neighborhood? That would be really helpful
- 9moNicholas L.Pro MemberFlipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
why not stay within a couple hours of NYC, instead of going so far away? there is just no substitute for being able to be hands-on / in person. how about the Lehigh Valley in PA?
and just to be frank... with everything you listed in your post, you're looking for something that doesn't exist. there's no such thing as an off-market, turnkey, concierge service that is going to surface great deals for you before local investors get them.
hope this helps
- 9moMike PaolucciBusiness MemberRealtor · Columbus Cleveland Dayton, OH · Member since 2022 · 504 posts · 556 votes
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
Hi Emranoor. I'd echo @Travis Timmons said regarding the neighborhoods. Definitely a much better landlord experience when investing in better neighborhoods. Investing is a long term game and not a sprint by any means. Better neighborhoods generally mean longer tenant stays, less maintenance (tedious things over and over) and less likelihood of rent not being paid on time. Margins might be smaller but your experience will be much better.
West side of Cleveland is ideal for that strategy imo. Happy to connect and chat more.
Reafco - Mike Paolucci 512 Reviews - 9moAlfath AhmedBusiness MemberReal Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
I sell a lot in Cleveland. I've got 5 cold-callers that hammer the phones all across the west side and certain parts of the east side. All good deals with good equity. I've also a got a good contractor network, property managers, and lenders that can finances the deals with 15% down as well. Works great for these cashflow markets.
ReafCo | Ahmed Group 533 Reviews- Investor · Member since 2021 · 8 posts · 3 votes9mo
Quote from @Alfath Ahmed:
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
I sell a lot in Cleveland. I've got 5 cold-callers that hammer the phones all across the west side and certain parts of the east side. All good deals with good equity. I've also a got a good contractor network, property managers, and lenders that can finances the deals with 15% down as well. Works great for these cashflow markets.
Alfath - What kind of cash on cash returns do you see in Cleveland?
- 9moSamuel DioufBusiness MemberReal Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
Quote from @Prashant Kumar:
Quote from @Alfath Ahmed:
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
I sell a lot in Cleveland. I've got 5 cold-callers that hammer the phones all across the west side and certain parts of the east side. All good deals with good equity. I've also a got a good contractor network, property managers, and lenders that can finances the deals with 15% down as well. Works great for these cashflow markets.
Alfath - What kind of cash on cash returns do you see in Cleveland?
In stable areas you can find deals in the 12-15% COC range.
Reafco - Samuel Diouf528 Reviews - 9moAlfath AhmedBusiness MemberReal Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Prashant Kumar:
Quote from @Alfath Ahmed:
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
I sell a lot in Cleveland. I've got 5 cold-callers that hammer the phones all across the west side and certain parts of the east side. All good deals with good equity. I've also a got a good contractor network, property managers, and lenders that can finances the deals with 15% down as well. Works great for these cashflow markets.
Alfath - What kind of cash on cash returns do you see in Cleveland?
Cleveland is better than its neighboring state for cashflow. As sam said below, 12 to 15% is what I typically see. The key strategey is in the buy, you want to buy into equity. Most realtors suck at that.
Find a good realtor that can find you the OFF-MARKET deal and can negotiate for you.
ReafCo | Ahmed Group 533 Reviews - Investor · Member since 2021 · 8 posts · 3 votes9mo
Quote from @Samuel Diouf:
Quote from @Prashant Kumar:
Quote from @Alfath Ahmed:
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
I sell a lot in Cleveland. I've got 5 cold-callers that hammer the phones all across the west side and certain parts of the east side. All good deals with good equity. I've also a got a good contractor network, property managers, and lenders that can finances the deals with 15% down as well. Works great for these cashflow markets.
Alfath - What kind of cash on cash returns do you see in Cleveland?
In stable areas you can find deals in the 12-15% COC range.
Thanks Sam.
- Investor · Member since 2021 · 8 posts · 3 votes9moThanks Alfath.
Quote from @Alfath Ahmed:
Quote from @Prashant Kumar:
Cleveland is better than its neighboring state for cashflow. As sam said below, 12 to 15% is what I typically see. The key strategey is in the buy, you want to buy into equity. Most realtors suck at that.
Find a good realtor that can find you the OFF-MARKET deal and can negotiate for you.
- 9moBernice RetzloffPro MemberMemphis, TN · Member since 2024 · 234 posts · 100 votes
Hey Emranoor! Welcome to BiggerPockets, and great clarity on what you’re looking for. Being a remote investor from NYC means your team is the foundation of your success, especially in markets with older housing stock like Cleveland.
Since you’re targeting cash-flow duplexes/SFRs and potentially Section 8 in the 44109 area, you absolutely want professionals who:
- Understand how to underwrite conservative rents and expenses
- Know how to navigate Section 8/CMHA inspections and lease processes
- Communicate regularly with out-of-state owners
- Use real management systems (portals, online reports, maintenance tracking)
What you’re asking for, investor-friendly agents & reliable PMs, are exactly the roles I help investors with regularly.
I’m a real estate agent based in Memphis, TN who works with out-of-state investors building long-term rental portfolios, and I also work closely with FoundationPM.com, a property management company that specializes in serving remote owners. They’ve built systems around transparency, reporting, consistent communication, and working with older properties, including Section 8.
While I can’t directly plug specific Cleveland vendors without confirming they meet your criteria, here’s how you find the right ones:
🔹 Investor-Friendly Agents:
Ask for transaction history with out-of-state buyers
Require references from investors they’ve worked with
Look for familiarity with rehab, comps, and niche financing (DSCR, portfolio lenders)
🔹 Property Managers:
Before you commit, vet them on:
How they handle maintenance costs and approvals
Whether they provide online owner portals with financials and photos
Their marketing + leasing process (turnaround time matters)
Experience specifically with Section 8/CMHA
Since Cleveland’s housing stock and submarkets vary tremendously block by block, having a local expert who specializes in investor due diligence. Not just transactional closings, is crucial.
If you’d ever like to compare what investor-friendly setups look like in Memphis, where a lot of NYC investors start because of the cash flow and landlord-friendly environment, I’d be happy to share examples and intros to management teams like FoundationPM.com.
Just let me know how you want to compare your options! I’m glad you’re taking a structured approach!
- Investor · Member since 2021 · 8 posts · 3 votes9moHi Bernice,
Quote from @Bernice Retzloff:
Hey Emranoor! Welcome to BiggerPockets, and great clarity on what you’re looking for. Being a remote investor from NYC means your team is the foundation of your success, especially in markets with older housing stock like Cleveland.
Since you’re targeting cash-flow duplexes/SFRs and potentially Section 8 in the 44109 area, you absolutely want professionals who:
- Understand how to underwrite conservative rents and expenses
- Know how to navigate Section 8/CMHA inspections and lease processes
- Communicate regularly with out-of-state owners
- Use real management systems (portals, online reports, maintenance tracking)
What you’re asking for, investor-friendly agents & reliable PMs, are exactly the roles I help investors with regularly.
I’m a real estate agent based in Memphis, TN who works with out-of-state investors building long-term rental portfolios, and I also work closely with FoundationPM.com, a property management company that specializes in serving remote owners. They’ve built systems around transparency, reporting, consistent communication, and working with older properties, including Section 8.
While I can’t directly plug specific Cleveland vendors without confirming they meet your criteria, here’s how you find the right ones:
🔹 Investor-Friendly Agents:
Ask for transaction history with out-of-state buyers
Require references from investors they’ve worked with
Look for familiarity with rehab, comps, and niche financing (DSCR, portfolio lenders)
🔹 Property Managers:
Before you commit, vet them on:
How they handle maintenance costs and approvals
Whether they provide online owner portals with financials and photos
Their marketing + leasing process (turnaround time matters)
Experience specifically with Section 8/CMHA
Since Cleveland’s housing stock and submarkets vary tremendously block by block, having a local expert who specializes in investor due diligence. Not just transactional closings, is crucial.
If you’d ever like to compare what investor-friendly setups look like in Memphis, where a lot of NYC investors start because of the cash flow and landlord-friendly environment, I’d be happy to share examples and intros to management teams like FoundationPM.com.
Just let me know how you want to compare your options! I’m glad you’re taking a structured approach!
What kind of cash on cash returns do you see in Memphis. I recently saw a news article which ranked Memphis at #2 in crimes. How do you identify right neighborhoods to find properties in safer locations. I hear zip codes don't work and you have to look street by street.
What kind of returns can you get on Section 8 housing in Memphis?
- 5moVijay FriedmanBusiness MemberMiami, FL · Member since 2026 · 766 posts · 124 votes
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
@Emranoor Rashid
for Cleveland buy-and-hold deals, I'd also factor in financing early along with agent and property management support. Taxes, insurance, rents, property condition, and DSCR will heavily impact whether the deal works, especially for out-of-state investors. - 5moVijay FriedmanBusiness MemberMiami, FL · Member since 2026 · 766 posts · 124 votes
Quote from @Emranoor Rashid:
Hi BP,
First-time out-of-state investor (NYC) targeting cash-flow duplexes/SFRs in Cleveland west/south side (esp. 44109 area) for remote buy-and-hold (Section 8 or market-rate).
Need referrals for:
1. Investor-friendly agents – off-market deals, turnkeys, strong due diligence support
2. Reliable property managers – transparent fees (8-12%), good with Section 8/CMHA, older properties, responsive communication, out-of-state owners
Priorities: Honest, trustworthy, proven track record with investors.
@Emranoor Rashid
for Cleveland buy-and-hold deals, I'd also factor in financing early along with agent and property management support. Taxes, insurance, rents, property condition, and DSCR will heavily impact whether the deal works, especially for out-of-state investors. - Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes5mo
Holla
- Real Estate Broker · Cleveland, OH · Member since 2018 · 227 posts · 133 votes4mo
Hey!! If you're still looking for any referrals to help build out your team, I'd be happy to send you my list
Cleveland can work but 44109 is a mixed bag, some blocks are fine and others you'll regret. The biggest mistake I see out-of-state buyers make is leaning too hard on one person to be both deal finder and due diligence. You want those roles separate. A good investor friendly agent for sourcing and a PM who has no stake in whether you buy.
On the PM side, Section 8 in Cleveland requires CMHA inspections which can be slow and unpredictable, so make sure whoever you hire has real experience managing that process and isn't just saying they do. I use an AI tool to help screen and evaluate markets and neighborhoods remotely before I even make calls, which helps me show up to those conversations already knowing the right questions to ask.
- Member since 2019 · 1 post · 0 votes4mo
Hey! I am a real estate investor out in Louisiana (Lafayette area). I own over 120 rental properties and have built it while having a demanding career. I've built a team around me that is able to manage day to day. I am selling some of my properties. All of my property is with professional property management. If any out of state folks want to look in LA, I'd be happy to make intros to my team. It would be a true turn key experience.
- Developer · Edinburg, TX · Member since 2026 · 4 posts · 0 votes4mo
Hey Emranoor — different market than Cleveland, but worth considering: the McAllen-Edinburg MSA in South Texas has been one of the stronger performing secondary markets for cash flow and appreciation over the last few years. Strong population growth, low cost basis, and a lot of out-of-state capital has been flowing in from CA, NY, and FL.
We develop residential communities here and work with passive investors through preferred equity positions — so if you ever want exposure to Texas without the headache of managing a property yourself, happy to connect.
Good luck in Cleveland either way — just wanted to plant a flag for the RGV in case it's ever on your radar.
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