Considering buying a small multi-family out of state...advice?

[Monica Boyles]

Hi all - looking to buy my first 2-4 unit multifamily (or possibly STR). I live in the San Francisco Bay Area, so buying locally doesn't make sense. I've been looking at more remote but still desirable parts of California, but obviously CA is just expensive in general. Even though I am aiming to put 30-40% down, it seems like it will be challenging to get rents to cover a loan and basic monthly expenses. Would love any guidance on buying out of state -- from best markets to consider, to techniques for research, how not to get burned, is it OK to purchase sight unseen or would you always recommend viewing in person, etc. I'm sure this topic has been covered before, so please feel free to point me to existing guidance if there is some. Many thanks in advance.