I have money to purchase an investment property just not enough where I live. HELP!

[Michael Benton]

Hello everyone! I'll get right to the facts. I'm a single guy with a fixed income, I'm a veteran, and I have $30,000 to invest. I want to purchase a rental property so I can start creating cash flow to be able to purchase other assets, move into investing full-time, etc. I live in Gilbert, AZ, and SFH homes are out of my price range to afford, and MFH is way out of my price range if I can even find them, so I'm continuing to live in an apartment.

I was thinking of using the $30,000 as a down payment on a DSCR loan to purchase an MFH in another state. Is purchasing my first investment property in another state a good idea? Also, where would I even start?

[Galen Ikonomov]

Let me correct you. You don't have money to buy an investment property - 30k is money to replace a roof.

You do have money to purchase a house hack though and start from there. You are going to be of an amazing start learning how to be a landlord through house hacking. Also, that way you don't have to leave the state unless you don't like it.