Newbie investor based out of California... where to start??

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Hello BP! I have recently become interested in starting my REI portfolio, but don't know where to start! I currently work a 9-5 job in Redondo Beach, CA and was thinking I would start by purchasing a condo in the South Bay for myself to live in and renting out the extra rooms to help cover my mortgage. BUT prices are sky high in the area and inventory is insanely low. I can only afford $700-750K, with 5% down, realistically limiting me to a 2 bedroom condo. Am I better off starting out by investing in a rental property out of state now, or should I hold off purchasing any property so I can build capital for when the market crashes in CA, or should I stick to my original plan of trying to buy now in the South Bay? Any advice would be appreciated!!