Buy existing.

I wouldn't say that I am only committed to Cincinnati, but rather I am more familiar with that market. 

You’re ALWAYS better off investing locally, where it’s easier to:Learn the marketNetwork to find dealsNetwork to find contractorsBe more hands-onDriveby property to keep tabs on itNetwork to find a decent Property Management Company (PMC)Next best location is somewhere else you lived, where you have an existing network of family & friends to help you as accomplish the above list as needed.If you invest OOS, your biggest challenge won't be finding properties to meet your goals on paper, it’ll be successfully outsourcing all of the above.The biggest mistake we see OOS investors making in our market, over and over again, is not fully understanding Neighborhood/Property/Tenant Classes and how they impact your probability of success!

You will most likely have to get some kind of SBA loan for it as it is a mix of real property as well as an existing business. 

𝐇𝐨𝐦𝐞𝐛𝐮𝐲𝐞𝐫 𝐝𝐞𝐦𝐚𝐧𝐝 𝐣𝐮𝐬𝐭 𝐝𝐞𝐭𝐞𝐫𝐢𝐨𝐫𝐚𝐭𝐞𝐝 𝐟𝐮𝐫𝐭𝐡𝐞𝐫.January 2026 existing home sales came in at 3.91 million.Down 4% year-over-yearDown 42% from the pandemic peakDown 27% from pre-pandemic normsWe are now operating at demand levels that, outside of the GFC period, are historically depressed.This isn’t a “rates will fix it” story. 

I do have an integrated account so it flows well with my PMS and existing systems. 

For $27.5k out of pocket, that's solid if the numbers hold.A few questions worth asking before you commit: Does the seller have any other VA entitlement tied up here, or will they regain it when you take over the payments?

I remember when a program existed, but it was canceled by Ronald Reagan.It's very simple!

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I have about 9 yrs left before retirement and am looking for advice and debating either a) getting another property in Chicago (cons: tenant-landlord ordinance & escalating property taxes, pros: existing relationships, market knowledge and my desire to visit friends and family there often) or alternate locations I'm considering > Kansas City, MO > Knoxville, TN > Peoria, IL > Winston Salem, NC.