Starting With Out of State Rentals

[Evan Miller]

Hello everyone!

I'm curious to know what you all think about a brand new investor (I own one condo and rent out the extra room) looking to out-of-state rentals to get started. 

I live in Denver and don't want to let my lack of cash keep me from getting started.  I've spoken with an investor who has had a lot of success with a vacation rental in Isabella, Puerto Rico (still US real estate).  He raves about it but I'd like to hear what some other experienced investors think about this.  Seems a little risky to me.  

I've also considered buying in Florida, where I know duplex prices are relatively low compared to rent.  

My biggest concern is that I'm new to this, and buying out of town seems like it could present quite a few extra challenges.  Does anyone have thoughts to confirm that concern, or to encourage me otherwise? 

I'd appreciate any thoughts!