Living in New York, Considering Out of State Investments

[Ali Syed]

I am 30, single and currently live in long island, NY. I'm currently in a very forgiving circumstance, where I am living for free at my family's home. I've saved a good amount of money this past year and due to covid, I am working remotely, indefinitely. SO I do have a fair amount of flexibility now more than ever before and with that i'd like to take advantage of my current situation. 

I'm new to a lot of the real estate world (recently purchased Brandon Turner's book - love it!); I have yet to establish a real estate investment strategy that works perfectly for me. While I am studying and reading, I don't want to run into "analysis paralysis", and believe in learning as I go. The reason I'm posting here, I'd love to get any advice from this incredible community on where I can begin (would love to meet for coffee or over a zoom call to network with ya!). 

Essentially, considering my situation, should I be looking for a "buy and hold" multi tenant home in my backyard (long island, the boroughs, jersey) or should I consider out of state investments (i've been surveying Philly, Durham, Raleigh). I could house hack, but again, I really don't mind taking advantage of living at my family's home for free for the time being and renting out every unit in the first home that I find. 

Very intrigued to read responses and experiences anyone else may have gone through!

Cheers