Looking for an advice !? Out of state rental property.

[Andriy Likhman]

Hi everyone after a long time of reading and learning here it's finally time to introduce myself. My name is Andriy and I'm from Brooklyn, NY.

I am looking to purchase my first rental property but I'm lost when it gets to location picking. Real estate in Big Apple is too crazy, to begin with, so I need something out of state. How to decide on the market? What to look for? Does it matter if it's a 3-hour drive or on the west cost? How is the experience of purchasing out of state when it comes to my availability there? 

I have about $50k cash to make the deal and pre-approved for $200k property with 15% down. 

Open to all advices on which location to start looking at with my budget.