Think it's OK to buy first property in an area I don't live in?

[Blaise Doremus]

I currently live in an area of the Northeast where real estate is very expensive. I do not like where I live and do not want to buy here. Although I would be sacrificing income by doing this, I am hoping to relocate to a  city with a hot real estate market in the south or the Rockies once my rental agreement ends next October. 

I am under 30 and anxious to buy real estate, but am not sure if an inexperienced investor like me could handle buying his/her first property 1,000+ miles away. However, my job is quite flexible and I have travel discounts. 

My ideal scenario would be to start off house hacking.