New to investing from Dallas, Georgia

[Tyler Robertson]

My name is Tyler Robertson and I am from Dallas Georgia. I came across this website last week when I saw a post from Brandon Turner on MSN about buying a multifamily home, and it caught my interest. I have no experience in investing, but I would enjoy to learn more while I save up the funds to make my first purchase. I would like to own a few rental properties, but my goals or not set in stone yet as I learn more I'll probably make changes to my goals.

Some of my questions would be, what are some of the most cost effective ways to get appreciation? I saw something about cap rate, what is that? Is it easier to own properties in proximity or is it okay to own properties in other states?