Local or out-of-state for first time (multi-family) investor

[UV Singh]

Greetings BiggerPockets Mates!

I really value the BiggerPockets community and the human wisdom and partnerships available here. I am a first time investor with a decent amount of cash to put down for my first investment property. I am fortunate to be able to invest a decent pot of my life savings (+1mm) cash in investment real estate.

I am a W2 employee and would like to partner up with a strong local team where ever I end up investing (Mortgage Broker, Title Co, General Contractor, Property Manager). My plan is to deploy capital now if there are deals worthy of jumping into, taking 1-2 years to stabalize and make the property run efficiently, and then give up my W2 job to do a whole lot more of the same. 

I am located in the Bay Area and of course multi-family is insanely expensive here. Would you advise that I look else where for my first deal or 2 - possibly else where in California (Sacramento, Los Angeles, San Diego) or Texas (Dallas, San Antonio, Austin) or Florida (Orlando, Miami)? 



With gratitude,
UV Singh

Bay Area, CA