Where to search for out of state for newbie.

[Sino U.]

Hi BP Community,

I’m excited to join and start my journey in real estate investing. I’ve been reading Brandon Turner’s book on the subject and am nearing the end. Eager to begin, I have a few questions and would appreciate your insights and advice.

I currently live in Monmouth County, NJ, and bought our home last summer. Considering the high property taxes unfriendly laws towards landlords , inventory, and prices here, I’m pondering out-of-state investments for potentially better cash flow. I’m attracted to markets with:

• Lower property costs

• Landlord-friendly laws

• Lower property taxes

However, I’m unsure about the best market for a beginner like me, aiming to invest in multi-family properties with a budget of $50K. Is this feasible in the current market?

Another concern is financing. I'm considering using a HELOC from my residence. From what I've read, this seems more suited to a BRRRR strategy. Would it still be a wise choice for a straightforward investment?

Lastly, I’m curious about starting with Section 8 housing. As a novice in real estate, is this advisable, or should I gain more experience with other properties first?

Thank you!