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Updated almost 5 years ago, 02/25/2020
How soon is too soon to invest out of state?
I am currently saving up to buy my first property (a househack) while finishing grad school. I have a job lined up in Dallas, which is theoretically great for long term appreciation. However it's also highly competitive. I interned with the firm I will be joining for 7 months so I have some idea of the areas I like, though they're all somewhat close to downtown as that is where I'll be working. I've been warned that cash flowing properties near downtown are few and far between and I'm wary of saddling myself with a giant commute and my female coworkers tell me the DART isn't safe after dark.
I am going to school at OU in Norman/OKC and living with my parents, who are from OK and know the area well. OKC seems to be up and coming and properties appear to be much more affordable here, though I don't know what I could expect to charge for rent. I'm wondering if I should invest first in OKC rather than Dallas to get my feet wet and get some sort of cash flow going. My main hang up is that it's ~3 hours away and I have no experience landlording or rehabbing (if any may be necessary), especially from a distance. Would this be too much too soon or would it be better to get something going in a market that's less competitive?