Where is the best city to purchase real estate right now? Looking for somewhere I can rent for more than what the mortgage will be. Anyone know of markets where this condition exists?
by 
lomi
ANSWERS: 3
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Indiana has cheap real estate compared to other states. Job seeking sucks right now, not to add the strange weather but if your up for an interesting area hit up indiana
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Pick any city with a university, and purchase a large family home on the outskirks of town. You can get it for cheap and rent it out to students. Mommy and Daddy with pay what ever you ask.
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Minnesota still has a good inventory of inexpensive properties that can be rented for more than your mortgage payment. Minnesota also has a strong employment climate, critical to the mix. Please keep in mind that non-owner-occupied mortgages are difficult to obtain. You can have no more than 4 properties with any given lender (I have a couple that will allow up to 10 properties). No Doc. loans are no longer available, and Stated Income may only be used on NOO properties (with a great deal of scrutiny).
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