Buy and hold: Back yard, or cross country?

[Michael Robertson]

Hello everyone!

Super newbie here. I'm very very interested in buy and hold investing. As I start to put my long term plan together one issue is becoming more and more unavoidable: I live in the San Diego area and its hard(er) acquire property and to get cash flow going here!

So it seems I have a choice: I can start investing in a harder area (San Diego) where properties cost more and cash flow less, but where I know the area and am within driving distance of my rental properties. Or I can research and find a more favorable market far away to invest in where I know no one, but conditions will be more favorable.

What do you all think about buy and hold in your back yard vs buy and hold at a distance?

Which would be easier?

Which would be more profitable long term?

How does property management factor into all this?

Should I do a combination of both?

Are my underlying assumptions silly anyways?

I know you can be successful either way. I'm just trying to decide what would be best for me. I appreciate any thoughts you guys have.

Thanks!