@Thomas Grenier,

Hey Thomas!

It’s awesome that you’re thinking about pooling funds with friends and expanding beyond your local market. It’s definitely a smart way to start building wealth through real estate, especially in a high-cost area like Boston.

My Toledo thoughts:
Toledo is an affordable market with strong rental demand due to its large population and stable economy. However, it can be a bit undervalued compared to other Midwest cities, which can make it tougher to achieve higher cash flow.

While Toledo is still a good option, if you're looking for stronger cash flow and better appreciation potential, I’d recommend expanding your search to nearby markets like Akron and Canton, OH. 

Why They Stand Out -- 
Affordable property prices: You can find homes in these areas for around $130k–$150K, which offers great cash flow opportunities with lower upfront costs.

Solid rental demand: Both Akron and Canton have stable economies, with a good mix of university students, young professionals, and long-term tenants.

Steady appreciation: While these markets are more affordable, they’ve been seeing gradual appreciation with opportunities to add value through simple renovations and property management improvements.

Landlord-friendly: Ohio is known for being landlord-friendly, which can help minimize risk and headaches in case you need to evict tenants or manage difficult situations.

What About Buying Far From Home?
Buying a rental property out of state is common for investors, especially in high-cost areas like Boston.

Why it's not as risky as it may see --
Leverage Property Management: In Akron and Canton, you’ll find strong property management companies that can handle everything for you-so you’re not tied to the location.

Remote Investing is Normal: Many investors build successful portfolios in markets they don’t live in, relying on their teams on the ground to handle day-to-day operations. You’ll just need to vet your team carefully (agents, property managers, etc.).

Scalability: Investing in more affordable areas lets you scale quicker with better cash flow, allowing you to purchase more properties and build wealth faster.

Start with turnkey properties to minimize risk. Many areas like Akron and Canton have turnkey rental options that come fully renovated, tenant-occupied, and property-managed.

Focus on cash flow first-look for areas where rent-to-price ratios work out in your favor, like Akron and Canton, instead of just appreciating markets that might be out of your budget.

Leverage your team- this is crucial for out-of-state investing. Be sure to work with an investor-friendly agent, a reliable property manager, and a trustworthy contractor.

Look into Akron and Canton as a viable alternative to Toledo- they’re both stable, affordable, and have better cash flow potential.

Reach out to local real estate agents and property management companies in these markets to get a feel for the area and see available deals.

Vet turnkey property options - this can make your first investment less stressful and more predictable.

You’re on the right track, and with a little due diligence, you’ll be able to scale quickly and efficiently. Let me know if you’d like help looking into specific properties in Akron or Canton - always here to chat more.

Best of luck!