How should I choose out of state rental investment?

[Yinglu Wang]

Hello everyone,

I currently work / live in New York City area. My goal is to purchase a duplex for rental investment in the next 12-18 months. Given the market I'm in, if I want to start rental investment I will have to invest in out-of-date properties. I wanted to seek advice before I go further down to the path.

1. What are the factors should I consider when choosing properties in a state / market I'm not living in?

2. Generally speaking, is rental investment still a good option when the property is out of state?

3. What are the challenges should I expect if I don't live in the property?

4. When I'm not very familiar with a neighborhood, what's the best way to find comps?

Thanks!