Investing in Raleigh for a newbie

[Kimberly Scott]

Hi all,

I am trying to get into real estate investing but I'm not sure if it is better to invest in a hot market like Raleigh or try to go with something a little more under-the-radar. 

For background, I'm a 23 year old travel nurse, making between $82-90k a year. I have no debt, and I keep my living expenses very low (hospital dorms for $160/mo). I have budgeted $15k for my first property's down payment (FHA 3% down) and rehab. I would like to buy a single family or duplex for less than $100k.

I am drawn to Raleigh/Durham area because the crime is low, the city is growing, and with UNC nearby, I think finding steady renters is realistic.

But as you can imagine, I am not going to be able to take a very hands on approach. I travel (currently in Virginia), meaning that I would need a strong team to manage my property. Since Raleigh is so hot right now, I'm nervous that most contractors, managers, and agents aren't going to make time for a newbie like me or they'll be so expensive my profit margin will be consumed. I do not know anyone in the area, so personal favors/connections are not likely.

Should I go with a market with less competition for my first investment? Or if the numbers line up should I take the plunge? 

Thanks! Eager to hear about your opinions and experiences.