Should I invest out of state for my first property?

[Jack Stalnaker]

I’m currently 19 living in Denver with my parents. I have a job making ~ 90k and I plan on moving to Texas sometime in the near future. I found an opportunity to purchase a property that would cash flow approximately 100 dollars a month in Texas including property management fees among all other various expenses with a tenant already on a lease. Should I embark on this and move in once the tenant’s lease is up or buy another property and continue to rent it when I do move, or just wait until I move to purchase a property down there?

[Zeke Liston]

Quote from @Jack Stalnaker:

I’m currently 19 living in Denver with my parents. I have a job making ~ 90k and I plan on moving to Texas sometime in the near future. I found an opportunity to purchase a property that would cash flow approximately 100 dollars a month in Texas including property management fees among all other various expenses with a tenant already on a lease. Should I embark on this and move in once the tenant’s lease is up or buy another property and continue to rent it when I do move, or just wait until I move to purchase a property down there?

 I would personally wait to buy a property until you're down there. If you wait, you'll be able to get an owner-occupant loan and house hack, putting far less money down with a better interest rate.