How to find strategy/market?

[Luis Fontenoy]

Hey guys,

A little about me:

- Early/mid-career professional investor in corporate private equity

- Live in NYC

- Looking to invest in real estate as a way to diversify away from my fund since it controls my income and I have significant co-invest/carrry dollars at work in it

- Looking to start off with a $50k equity check (all in including closing costs, rehab, furniture, etc)

- Ability to leverage an extensive network of friends and family for a deal that might require a larger equity check

- Very comfortable analyzing opportunities in traditional corporate entities but still learning the ins/outs of real estate investing

I am trying to wrap my head around what strategy to pursue and in which market. I have the following questions:

1) Intuitively I believe that due to the check size and it being my first transaction I should probably stick to either a SFR or a small multifamily that being said I am open to listening to feedback on whether I am missing something

2) Would you recommend a first-time investor to invest out of state? Would you guys recommend a first-time investor carry out a rehab? I am worried that having to deal with contractors increases complexity significantly. Would love to hear some first-hand accounts if you guys have any.

3) How do you guys go about forming a thesis on a market? Is there any data providers/analysis that are industry standard that might help you form a sophisticated view of potential growth/appreciation in a market?

4) What are some markets that the community currently believes are attractive and what draws everyone to them?