Newbie from Los Angeles looking to Invest locally or Out of State

[Malia Miyashiro-Harmon]

Hi BP Community! I have just joined and been listening to the podcasts and diving into the idea of REI the past few months. Both my husband and I work in the film industry so we are pretty tied to this location for living, but I know neither of us can handle the film industry grind forever, hence wanting to invest in real estate with the hopes of creating passive income in the long term. While we have some cash on hand, it doesn't really make a dent in the Los Angeles market, so I would love to hear from other investors from LA or big cities, and if they did stay in their more expensive markets, what did they do? Or did they stretch their dollars and invest in out of state / growing markets? Also those investors that have very busy work schedules.. what strategies worked best for you guys?

While I know house hacking sounds like the best option, I'm just going to say it, my husband and I have lived without housemates for a very very long time so I that really isn't in the cards for us.  We also have a beautiful rental in a prime location at a very very good rate, so are more interested in options that keep us were we are but help us work to build income.

Thank you in advance for any advice and feedback!