I have $150k saved up, now what?

[Andres Jimenez]

Hello, I am new here.

I live in Walnut Creek, CA with my wife and my two kids in a 3 bedroom single family home I bought in 2010. I have a pretty stable well paying job in tech and I was able to save $150,000. I am looking to one day have around $12k a month of cash from rental properties.  There are a couple of things I know I want:

1. I have relatives in NC (Raleigh/Greenville area) and FL (Tampa/Orlando area) so I would prefer to properties in those states

2. I would have like to have someone manage any property I rent

Where do I start?

Thank you all in advance.