I’m gifted $10k a year. Advise on how I should invest.

[Vince Lauifi]

Hello everyone I’m new to bigger pockets and also new to this real estate investing.  My family receives 10k ever year from our grandparents estates and I really want to use that $$ to buy a rental property.  We currently live in California so I’m not sure if we should look at others states to buy property.  Im also looking to use my equity in my home to purchase property.  I was quoted $140 k of equity.  Any information will be greatly appreciated.