This may sound ridiculous and please forgive my ignorance, but I've been looking at investing in a city next to me that is not the greatest in the world but there are a ton of investors flooding it because they can get the property so cheap. The rental market in this city is big and I doubt highly if, with the exception of some neighborhoods people would buy a house there.
There are a lot of multi-family homes in the city which brings me to the question: Are investors buying single family homes in this down market? I'm a newbie, if you couldn't tell. Now the city I live in has mostly one-family homes and the properties hold their value more. I would love to get into buying out here but I dont really understand the market out here. Typically if this is a down market what would a single family home be profitable to an investor looking to buy? Thanks all!