From sea to shining sea in the United States, there may be a flip or turn-key rental property perfect for your client. But finding that investment can be easier said than done.

Financial advisors across the country offered their ideas on finding rental investment properties that will generate a reliable stream of revenue for clients.

Pittsburgh, the second-largest city in Pennsylvania, is undergoing a dramatic redevelopment. Long known as "Steel City" and the "City of Bridges," Pittsburgh is home to corporate giants Google, Apple, Bosch, Nokia, Uber, Microsoft and IBM. It is also a favorite with film production companies, thanks to the state's tax credit programs and scenic locales. According to The Economist's 2018 Livability Index, Pittsburgh ranks second as America's most livable city.

Those factors lead Diane M. Pearson, a wealth advisor and shareholder with Legend Financial Advisors Inc. and EmergingWealth Investment Management Inc. in Pittsburgh, to see potential in the city's rental investment market.

"Pittsburgh used to have a reputation as a Skokie steel town," she told Financial Advisor magazine. "Steel still has a presence here, but it's becoming more [gentrified]." Pearson noted that with the opening of UPMC Children's Hospital in the Lawrenceville section of the city several years ago, the area has undergone a dramatic change.

"There's probably more move-in ready properties now, where there used to be more flippers before Children's Hospital opened there," she said. "[But] investors can still find opportunities in the North Shore area."

Pearson said that the Strip District, known for its produce market, has presented rental investment opportunities since the development of multifamily housing there over the past 10 years. "It's been fun to watch, [but] we've always been cautious in advising our clients to flip properties," she said. "We believe there needs to be an expertise in that area. Unlike TV shows, flipping can't be done in 60 minutes -- and I should know since I'm married to a flipper. He makes everything look good."

Pearson cautions investors that even after renting out a property, an owner's obligation to maintain it can require skills not everyone has.

Michael Zmistowski, Certified Retirement Counselor with the International Foundation for Retirement Education and primary member of Financial Planning & Wealth Management LLC, in Tampa, Fla., agrees residential real estate isn’t for everyone. "It’s really a tough road to go if you want to deal in residential," Zmistowski said. "Most people don't want another job (managing it)."

Zmistowski adds he offers long-time clients commercial deals. "The people that come to me are basically looking for a place to park cash, so we look for trustworthy partners [to share the risk]," he said. "We're a tight-knit group where we all trust each other."

Trustworthy investment partners are key to building wealth, according to Zmistowski. "If you're looking for steady cash, not the big hit -- like a pharmaceutical firm that comes up with a cure for cancer -- you can earn 7 percent annually, paid on a quarterly basis," Zmistowski said. "By the end of the five-year term, you've reached your investment goal without the headaches that often come with residential real estate rental properties."

Zmistowski sees small strip malls that do not require an anchor store as prime real estate rental investment opportunities for a select clientele seeking to build discretionary income for future expenditures, such as gifts for grandchildren or a cruise. "I currently have three commercial strip mall investment rental properties," he said. "The first one had cash flowing right away, but each one of them is a little bit different."

Zmistowski acknowledged that investing in a storefront rental in a small strip mall may not be for everybody. "This is not a securitized or advertised investment venture," he said. “[But] some of my clients have been with me for 25 years, so I know their situation, needs and risk intolerance. This is a less management-intensive real estate investment."

But not all financial advisors steer clear of residential property investments. Charles E. Donalies, CFP and president of his eponymous company, Donalies Financial Planning LLC of Washington, D.C., is not adverse to investing in residential rental properties. He looks for certain bellwethers when seeking out potential investment properties in a town where such homes are few and far between.

"I look to see whether millennials are moving in, if there's accessible (public) transportation, or if there are plans for development of commercial properties," Donalies said. "There might be plans five years away, but as long as those projects aren't going to be derailed, we can wait for them."

Donalies said that grocery stores or a Wal-Mart coming in are a big draw for people. So are bars and restaurants because they are where young people hang out on weekends. "Property values go up very quickly [after construction begins on these projects]," Donalies said. "I'm not someone that does a quick flip. If you're going to make any money, you have to get in while prices are low."

One of the most important assets to look for in a potential investment rental property is on-site parking, Donalies said. "If you can buy an investment place with parking, that makes it even more attractive to potential tenants," he said.

In scouting out potential rental investment opportunities in the nation's capital, Donalies said there are some neighborhoods he no longer views as a good investment. "I would not include Georgetown as an area ripe for investment opportunity because the properties are so expensive, even if you purchase a (flipper), and the rents are so high," Donalies said. "I think you have to look to upcoming areas such as the Southwest Waterfront, [and] parts of Northeast D.C., such as Ivy City."

For ambitious investors not afraid to get their hands dirty, Donalies said there are still deals to be had in Southeast D.C., which he said has long been a neglected part of the city. "But that's changing, (too)," he added.