New Inverstor Location Selection

[Sturwold Abbey]

Hi everyone! My name is Abbey, and I am newer to the BiggerPockets network. I have been listening to the podcast for a couple of months now, and am ready to get started more proactively in my real estate investment journey, my goal is to purchase something by the end of the year - but am feeling a bit stumped on my next steps! 

A little background on me…
I have lived in Los Angeles for 11 years now, but I am originally from Chicago. Currently I’m struggling with two “analysis paralysis” conflicts.

I’m trying to determine if I would like my first property to be in close proximity to where I live, or if it would be better to invest somewhere that is much cheaper and further away. My first thought here is the Palm Springs/Coachella area, which would be a short term rental. I know there are a lot of restrictions there with rentals, but I’m intrigued by the short drive from my residence, lower housing prices (compared to LA), and the short term rental popularity there. I am also considering a long term rental somewhere in the Midwest, but open to other areas as well. 

If anyone has any advice on how they first determined where they wanted to invest, their thought process, factors they considered upon initially making a decision on location, I would greatly appreciate it! I know that short term vs long term is an entire conversation in itself, and I’m aware of the pros and cons of both sides, however any input or guidance would be welcomed there as well. 

Thank you so much!