Investing out-of-state in a college town - Iowa State

[Hailey Padgett]

Hello, 

Chicago is an expensive market; as a new investor in real estate I'm considering investing out-of-state. Particularly I am looking into investing in a rental in my old college town of Ames, IA (Go Cyclones!)

Does anyone have advice on investing out of state as a new investor?

More importantly, has anyone had any success in buying rentals in a college town or is this a terrible idea I need to walk away from?

Thank you for any and all insight.