Nervous Newbie from Austin

[Sarah Hunter]

Hi All!!  So excited to find this, and nervous at the same time. I found you all through my quest of financial independence, and have since decided to go the real estate route since we are already kind of headed that direction anyways.   A little about us....we are from Austin and currently have 2 rentals and 1 primary home here.  Taxes are so high here, and property values are up there too, now, so it makes it really hard to find cash flowing properties.  We thought we'd start looking at out of state rentals.  I see there's a lot of turnkey guys here, but I'm not confident enough in my skill set to go there!  We are looking into Tulsa, our hometown.  We still have family there and feel more comfortable with that.  Anyone have experience in that market?  We will be talking to a lender today and going up there this weekend to start looking around!  EEEKKKK!!  We've been gone a long time so not sure of the rental market just yet, so hopefully someone here can give us some pointers.  We have a friend that's a realtor there, and has been for several years so I feel she'll be a good start, but I like to hear from multiple sources.  One thing I haven't noticed in looking around on the forums is how to handle the tax implications of out of state property.  IE, Oklahoma has state income taxes and Tx doesn't...so how will that affect my tax returns, etc.  Should my Texas tax accountant be able to handle this situation?  Speaking of which, are there any good referral sources for accountants here?  Overall, I feel completely ignorant about this venture we are on, but also feel that if I don't just take action, I'll never move forward! So please, I beg of you, help me not fall flat on my face! (our faces..hubs will be so disappointed if I royally screw us up!) haha

I hope I've covered all the bases, feel free to ask and comment, Lord knows I need all the direction and cheerleading you can muster!  

TIA

Sarah