new to investing in rental properties

[Vick Ghadimi]

Hello Everyone,

Thanks for a great forum. I am new to real estate rental property investing.

I currently own 1 property that I live in.

I have been pre-approved for $600,000.00 with putting 20% down and that is my budget for my first investment venture.

I am seeking your help to decide how I should diversify my $600k investment.

My questions are:

1) Should I diversify my investments in multiple states, e.g FL, TS, IN, or just stick to one state like FL, where we are expecting more appreciation.

2) How should I diversify between single-family, duplex and fourplex? I am currently thinking something along the line like:

• $400k fourplex 
• $70k single-family
• $130k single-family

---totaling $600k---

3) What are the 3 most important things to look for?

Thank You

- Vick