I'd highly recommend house hacking in your local market since you're in one of the highest cost of living areas in the US, especially if you're renting currently and planning on staying in the area for 5-10 years.It sounds sexy to go out and invest out of state for your first property.

But this was an awesome opportunity for me because this is my first living situation where I will be on my own (and getting used to paying a rent/mortgage) but this will put my overall mortgage on a 400k house at roughly $2000 a month for the first year!

I did 7 deals last year from out of state living in Austin Texas.

Living in top unit and renting out the bottom.

@Isaac TerryIn terms of it being worthwhile, just like most other markets out of state if the barrier or entry is too high where you live, the landlord laws are not favorable where you live, and you are looking for positive cashflow then Cleveland can be a good option.

Businesses are “living” organisms with a life of their own, usually having deep meaning to their owners.  

Now you see how expensive dining and living rooms are that could be converted. 

After 25 months, If they can prove that they lived in the property for two of the past five years, they can sell it as an owner-occupied residence.

I actually live Pinellas County.  

,I have sold and been managing properties that are near the MIA and haven't had any complaints from residents who are living in them.