Out of State Multi-Families

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BiggerPockets community,

I'd like to start a discussion about investing in multi-family properties that are located outside of your home market. I am an investor in Colorado Springs, where property is expensive and deals can be hard to come by. However, with a quick search online, I am able to find WAY more properties that have the right numbers and performance for me. As far as I see, aside from the obvious downfalls of potentially misjudging a foreign market, most issues can be solved with proper due dilligence (connections, research, etc) and the right property management in place... 

If anyone out there has an opinion, pros, cons or other comments, I'd love to hear them. Have a great night!

Jake