Need help deciding on our market

[Xiachun Yu]

Hello all!

My husband and I just opened ourselves up to the possibility of investing in real estate as a means to replace one of our incomes one day. Specifically, building a portfolio of duplex/triplex/quads. Very exciting, but very overwhelming because we're just in the beginning phases of education on this. Real estate in our immediate area is fairly high, so we thought the best idea would be to seek investment properties within our state, but in less developed (or up and coming) towns/cities. What do you look for when evaluating a community and its potential? Blue collar vs white collar? Median income? If there are universities nearby? Although we've lived here for 8 years and know many of these towns/cities, we've never viewed them through real estate investor eyes. I would love some insight on what to look for and avoid when seeking properties in unfamiliar places. Thanks in advance!