Thanks! --208.48.xxx.xxx

Where in Providence. Are you from the area? Although Providence is extremely cheap for the RI area, there are better, safer, easier options to landlord in the state. --12.154.xxx.xxx

If you have other suggestions, I'm very open. I'm new to buying investment property and my budget is under $300k for a three family. This does not buy you anything in MA except in very high crime areas. Since the northern part of RI is less than an hour from where I live I was thinking of expanding my search into RI. --208.48.xxx.xxx

I should add that by "familiar" with the area I mean going to the Providence Mall, eating at the amazing restaurants in the city, and visiting co-workers at their lofts on the East Side. I'm thinking that the foreclosure properties in my price range are not in these same neighborhoods. --208.48.xxx.xxx

A good realtor should be able to help you out. --12.46.xxx.xx

--199.46.xxx.xxx

Any elaboration would be helpful! Also, what about the area near Providence College? What issues should I be aware of in renting to students? --208.48.xxx.xxx

I would agree, finding something closer to home would be worthwhile. Your time and gas should work into the equation when figuring on what/where to buy. Whatever you might save by buying in Providence, will be lost in the first year, dealing with the cleanup (people and property) of the foreclosures. I've looked at a bunch. It will be a headache traveling back and forth to deal with it. --12.154.xxx.xxx

TenantWhisperer, any suggestions for where to look in MA? It would obviously be easier to buy in state for both proximity and tax reasons but I'm struggling with finding anything that would come close to breakeven. I live in the South Shore in Hingham. Boston's out of my price range except in high crime areas where I would be afraid to collect rent. Quincy is mostly --208.48.xxx.xxx

Quincy and surrounding areas I've found only two families in my price range and rents don't cover costs. I've looked into Brockton, but its difficult to tell whether that area will get any better anytime soon. Any thoughts on where to look would be appreciated! --208.48.xxx.xxx

That's not a bad city. --199.46.xxx.xxx

Ooooh, Brockton? Tenants are leaving Brockton like rats from a sinking ship. High crime and gangs. --199.46.xxx.xxx

Just a FYI- a 3 family foreclosure I looked at in Woburn sold for 295.000. In a nice neighborhood, good condition. DH didn't like it but I did (sigh). --24.97.xxx.xxx

Try Oakland Beach, R.I. . It was a nice small neighborhood with lots of single family waterfront properties when I was a kid there. I Google Earth'd the old neighborhood and it seemed like many things were still the same. --71.196.xx.xxx

With the price drops and higher commuting costs you need a good case to buy an hour away. Avoiding MA may be a good one, just like avoiding NJ. --68.193.xxx.xxx