Ok, being a property manager in Buffalo (before that Houston, TX and Poughkeepsie, NY), I can say Buffalo has some of the highest returns on your money in the United States. Also, there will be an increase in rent for your tenants due to a drastic civil project by the Mayors Office called the 5-5 Plan.
August 2007 > Mayor Brown Announces Aggressive 5 In 5 Demolition Plan
Quote:
Mayor Brown Announces Aggressive 5 In 5 Demolition Plan
Source/Contact
Office of the Mayor
Peter K. Cutler
Director of Communications
716-851-4841
Introduces New Deputy Commissioner of The Department of Economic Development, Permit and Inspection Services
Mayor Byron W. Brown today announced the launch of his new “5 in 5” Demolition Plan. The plan targets demolishing over 5,000 structures in 5 years.
The estimated cost of this initiative, over five years, is $100 million, with an anticipated contribution of $60 million from New York State, $20 million from the City of Buffalo, $15 million from the federal government and $5 million from a City-Community matching fund program (City will match goal of $2.5 million raised from community funding sources).
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It's Pretty Drastic and covers alot. The price of housing is very low here, and the rent in the medium range of comparables. What you need to do is find and research is your realtor and management company, or you'll have a bad ride for sure.