What are your thoughts on buying your first property out of state

[Kelly Conrad]

Just as an example, say the multi-family properties in your area are hot and going for at or above asking price.

Now, say 1.5 hours away in a different state, there are multi-family properties with tenants, but it's also in a college town (some of the properties don't look to be student tenants, but long term tenants). Obviously because of the distance, you need a property manager to handle the day to day, but you regularly are in that town to stop by if needed.

Say the cash flow is there as well, so that isn't an issue. If it were you, would this be something you'd consider? Why or why not?