Local market or out of state

[Tyson Moulton]

Hi all,

I'm new to real estate investing and looking to start out with a buy and hold multi-family.  I've been reading a lot of posts on BiggerPockets and listening to podcasts; these have been really helpful in beginning to develop a strategy.  This brings me to my question; local market or out of state.  I live in a area with high real estate costs, high taxes and low inventory.  Most properties that I've seen  would either have low returns or are just out of my price and comfort range for a first property.  Should I hold out for a deal in my local market or begin looking out of state?