Out of State Turnkey vs Local (Washington, DC Metro Area) BRRRR

[Diego Maramba]

I found BP about 5 months ago and am now ready to take that big leap into purchasing my first investment property. My personal finances are in order and I have access to approximately $170K ($77K cash, $93K HELOC + 401K loan). Investing and BRRRR-ing locally seems like the conservative, newbie thing to do especially since I have a great team in place, i.e. real estate agent, GC, home inspector. The biggest drawback is the high cost of the local properties if I go with the "purchase properties I would live in" philosophy. Am I crazy not to consider OOS given how many more doors I could potentially purchase with the same money?