Bay Area vs. Out of State

[Paolo Patacsil]

Hi guys! I need your opinion. I'm an RN here at Bay Area and since property here is out of reach I've been planning to buy a rental property in Midwest particularly in Cleveland, Ohio. I got recently pre-approved for 300k property and I started looking around. But then, I just find out that there's a state housing program like CALHFA that would help to cover the down payment for first time home buyer. Do you think I should pursue buying a rental property out of state or buy a single family property here at Bay Area through CALHFA and later on apply for HELOC to finance my rental property out of state? Thanks