Live in SF Bay Area - Work Remote - Want to invest out of state.

[Richard N.]

Hi all,

Long-term lurker. I wanted to get opinions from other investors on here when it comes to my situation. 

I currently work remote in a HCOL area aka SF Bay Area. I've saved roughly 120k across retirement, cash, etc. I plan to stay in the Bay Area for an extended amount of time - family and friends are here. My income isn't very high. 60-75k. Will eventually move up into 100k in a year or so most likely. 

Anyway, I'd like to invest into an out of state property, in a location that has some potential. I wouldn't mind moving to that location for the short term, to live in the unit before renting it out. I won't ever be able to afford housing here in the SF Bay Area. I'd like to eventually own property, and make my money work for me as I age. So I think out of state investing is the go-to move here. Potentially invest in a location with growth.

I've thought about Reno, SLC, Minneapolis. I wanted to get opinions on potential locations, and if any others have done what I'm thinking before. In the end, this could be a good way to hedge against these high rent prices where I live at the moment. 

Thanks for reading. Open to all insight and suggestions.