I'm looking to diversify my investments, and since I'm not a fan of gold/silver, I'm considering buying an investment property and renting it out. It looks like there's a lot of pitfalls if you don't know what you're doing. I know that I would definitely hire a property management company because I am treating this as strictly an investment and do not wish to spend too much time on it. IM is already a full time job for me. What features are the most important to look for in an investment property? A house close to freeways? Close to schools? 1 story or 2 story house? Does the house just need to be clean and functional - how important is curb appeal? Is it better to buy really cheap houses that would rent for ~$1,000/mo, or larger, more expensive houses that you could rent for ~$1,500/mo? I would think cheaper houses would be easier to find renters for, but on the other hand, would they also be more likely to attract less than desirable tenants? I've found some decent deals on some different real estate listings sites, but is there better places to look for potential investment properties? Foreclosures, auctions, etc.? All of this is still new to me so any advice from people with real life experience would be greatly appreciated.