Investing in RE without owning primary residence

[Chui O.]

Hi all, 

We are currently renting and since houses/location that we would like to live in are priced beyond our reach for now, I would like to just jump straight into investing in other more affordable areas around us. 

Are there any disadvantages to my plan that I should further consider? Such as, in terms of taxes or getting loans, any tax disadvantages to not owning a primary residence? Is it harder to get loans if the banks know we are buying for investment as opposed to primary residence?