For first property have you bought in a state you don't live?

[Lane Krejcik]

Hey! I'm moving to Colorado next year from Los Angeles, CA. I'm dying to get my first rental property in Colorado and have begun scouting numerous areas to get an idea of markets out there. To those that have been in a similar situation of moving out of state to begin their real estate investing career, do you have any thoughts/experiences you can share on whether it worked for you to wait until living in the new area so you're more physically available or to long distance manage if you find a good deal?

While longterm I am not averse to long distance management, I could also see this being a red flag for first property but would love your opinions. Thanks!