New investor looking to start out of state

[Dan Riley]

Hi everyone, I'm a first time investor looking to invest in long-term out-of-state rentals. I've been wanting to get involved for years and have been spending time researching/reading in the interim. The idea of being a first time investor and out of state has certainly given me lots of pause, however, if I don't go out of state, it won't happen (I live in the Bay Area).

Life is busy with a newborn and a long working hours so my time is strapped which presents another obstacle to getting started.

Target down payment is < $70k which puts me in the $250k - $350k range. Is this a reasonable amount to get started? Any areas you'd recommend looking as first time out of state investor? Any fantastic property managers that've made everything worthwhile?

Would love to connect with and learn from others who have been on a similar journey!

Appreciate the community help and support.