Properties closer to the median attract a more stable and consistent resident pool, they hold up better during economic shifts, and they’re easier to sell down the road if you decide to exit.

Additionally, properties that cater to affordability may attract a broader range of tenants, including those seeking temporary residence or individuals transitioning between housing situations.Moreover, the market for affordable housing tends to be more resilient during economic downturns, providing a stable investment option.

By examining how a market performed throughout a past real estate cycle, typically spanning a decade or more, we gain insights into its economic diversity and resilience during downturns.

Montgomery has seen downtown revitalization and growing economic investment, enhancing its appeal (Wikipedia).Alabama as a whole is one of the most affordable states for real estate—median home prices are around $220,000, well below the national average, which allows investors to get into the market with lower capital yet strong rent-to-price ratios (Southern Living).

(White House)The Fed Changes its Tone (again)Last week, the Federal Reserve's annual Economic Policy Symposium took place in lovely Jackson Hole, Wyoming.

Economically, I can cover a decent portion of my expenses with my rental income but not all of it. 

The tradeoff is distance - you’ll likely need a solid property management team and strong systems in place.Market Research Resources:BiggerPockets Market Analyzer – Great for comparing cash flow, appreciation, rent comps, and cap rates across states and cities.Local MLS data – Can give you a sense of property inventory and pricing trends in target out-of-state markets.Census & Economic Data – Look for population growth, job growth, and rental demand.Local property management companies – Even just browsing their listings can tell you what rents are, occupancy rates, and types of properties in demand.Investor forums & Facebook groups – Other investors often share first-hand market intel and turnkey opportunities.Recommendation:For a first property, many new investors lean toward out-of-state turnkey investments, especially if cash flow is a priority and capital is limited.

Choosing a market comes down to a mix of cash flow, appreciation potential, landlord laws, and overall economic stability.

Make sure you look at the economics of the specific markets you're targeting.

There is lots of economic development, which is good for jobs, which drives housing, rental demand, and appreciation.You can buy a single-family house for cash with that amount, which you stated is your goal, but you might save a bit more or use leverage to get a duplex for around $140K and have two units with hopefully one always bringing in rent.To Your Success!