Jumbo: I understand you want to find that deal "that works." would this be your first purchase? It's very anxious to keep track of that first rental. It might work out better if you expand your search to properties within 1 hour drive of your residence. How about contacts with investor "friendly" real estate brokers (esp. true blue property managers)? Once you make contact with them, let them know what you are looking for....they WILL keep an eye open for you. A lot of real estate is sold without ever being placed "officially" for sale. It would really help if you could get that first property nearby before going to the next nearest city. If there really are no options in that 1 hour drive (in any direction), than I guess expanding beyond that would help. Point of caution: Make sure you really get to know at least two property managers in that new city that you feel you can trust (they are honest/blunt with you about the market, about a particular property, etc.). And, find out about the job market in that city, where ever it is - no jobs, no good paying tenants. Let us know how the search goes...