My guess is there are favorable markets in every state in the US, but you need to really put in the time and do the research. For instance, a lot of people think that California is devoid of good deals, but I just scored a duplex that meets the 2% rule, so it can be done. Join up with your local RE investor club on Meetup and find out what strategies investors in your area are using. Since you have cash to invest, but maybe not the detailed knowledge, one idea might be to partner with somebody that is doing deals and get a return on your money while also getting an education.