OUT of State Investing

[Andrew Gillings]

Hi all,

I currently live in California and real estate prices are much higher than I would like. I know that the deals are out there, however I have seen that there are more/better deals elsewhere. 

I would ideally like to get into MFH, the more the better to me. $5-10k/door which I am finding. I just want to make sure that the area's are somewhat decent. What are some places or sites that you have all found to best help determine the status of the area? I don't want to have to visit every single property just to find out that the area is less desirable and waste my time or money. Some direction from the pros would be great! Places I am looking are in TX, MS, GA, TN, and AL. I am not opposed to other places but these are places that I have wanted to own in and my wife would love to live someday.

As for financing, current home has about $70,000 in equity that I built into it in the last year. I am trying to determine if it is worth it to sell before my 2 years is up and eat the taxes. While I can save a good amount by waiting, I do not want to miss out on any deals by not. What are the pros and cons in selling before my 2 year mark? 

I know that there are other ways to gain financing, however I want to exhaust all of my options before I hit those other ways.

What are your thoughts? All are welcomed!