Buying investment property out of state or house hacking in state

[Jim Bern]

Hi Everyone, 

Hope everyone is staying safe and healthy. I am new to investing in real estate and I am looking to purchase my first investment property. I currently live in the NYC area, and would like to ask what the best approach to start investing is:

1. House hack in NYC area ?

2. Purchase an out of state multi-family investment property?

I would want to start with the option that provides better cash flow returns as an investment.

Thank you for your insight.

Best Regards,

Jim

[Frank Procopio]

If you are looking for better cash flow then go upstate vs nyc