Is it a waste to NOT live in my first RE Purchase - Am I losing out on any benefits?

[Nicholas Bowers]

I have a successful PM company in SF and a CA Broker License - but currently don't do any sales transactions. I rent and really have no desire to purchase in the city because it would be a downgrade of space/neighborhood. I'm also not interested in doing sales - unless it saves me a lot of $$$. I'm considering building a portfolio on single/duplex homes in Oregon where my parents can be my managers - and I am up there 6 times a year.

-Am I screwing myself from any first time homebuyer deals, higher interest rates due to personal vs investing, etc.?
-Should I purchase closer to home so I can be the Broker for my own transactions?
-Even though I'm good at management do I treat this venture as it own as if I have no PM structure - or use my team as if I'm my own client?