Newbie with high income - Invest local or long distance?

[Sean Haran]

Hello all! I’m a Bigger Pockets junkie and aspiring investor. I’m 26 years old, working as a solar sales rep on a full commission 1099 pay structure (no hourly/no W2). Income varies month to month from 8-10k per month on a bad month, and have been paid up to 34k on my best month. To make it easy let’s say 250k per year income. No kids so my expenses are low, I am currently saving 75%+ of my income. I know for sure I want to put my cash into real estate, since the tax benefits will be huge for me based on my income and the fact that im not on a W2 salary. 

I live in Los Angeles, where homes are outrageously expensive. My question is whether it’s even worth it to look for investments writhing driving distance (250 miles or so) or if I just need to look out of state. I don’t need immediate cash flow especially if there’s a lot of upside for appreciation or raising rent in the future, but I also don’t want a property that I am losing 500/month on. 

any advice or pointers much appreciated! I am committed to purchasing a property in the next 12 months, hopefully much sooner