First investment out-of-state

[Jacob Prelle]

My wife and I live in Southern California and are beginning to browse the internet to gain familiarity with the market and gauge our options. We know there is great potential in purchasing a duplex (or more units) on FHA, living in one unit and renting out the rest. But if you know the home prices in So Cal, you'll know it's a difficult plan to execute there. We also can't leave - our jobs, family, etc. it's not an option.

Our other option is to purchase outside Cali and hope for the best. I know we'll do our homework, but there's a limit to how much research that can be done vs the ground-truthing it takes to know your market. 

Does anyone have advice, or cautionary tales? 

Thank you!