CA resident investing out of state

[Auryana Faramarzi]

Hi BP - For those of us who live in CA and cannot afford to invest in-state, we are now looking to invest out of state. And For those who have done so, where would you recommend we look for rental properties? I’d personally like to be somewhat “nearby” my rental property to self-manage but I know that may not be very realistic.

I’ve considered states like AZ and NM - markets are by in both places (as we’re seeing across the country). Positive cash flow is the goal, but I value appreciation just as much.

I’d love to hear people’s experiences, esp those from CA, investing out of state. Thank you all in advance for your help.