You don't want to place a couple of digital nomads who will be in conference calls all day in the same property as your travel nurse who worked the night shift and is trying to sleep during the day.

Sidenote my Outer Banks rental is crushing which has caused me to shift my focus a bit from cabin to beach for the next investment, based on current market prices.

To kickstart this project, a comprehensive home energy audit is on my agenda to craft a strategic retrofit plan that significantly enhances operational efficiency by 40-70%.This endeavor seeks to diverge from common quick fixes, such as installing baseboard heaters, which merely shift heating costs to tenants.

I think the best strategy is to keep an eye on the market and shift strategies as needed rather on being fixated on just one strategy within real estate. 

Hi Yang, if the $2MM property near LA makes sense for your goals and timeline, I'd do it.If not, then it's time to start looking out of state.I started my investing in Detroit (I live north of you in the Central Coast), but I'm slowly shifting some of my focus more locally.

In order to shift NOI you have to reposition the building.

In the Panhandle/Emerald Coast, GulfShores and Smokies there was a major shift in the purpose of the real estate inventory in the past 4 years which for ease of identification I will call pre-COVID and post-COVID. 

And it diminishes over-head, makes for more diversity in operational footprint, speed to pivot, market shift as market's shift to stay in the "bulls-eye" of market of the moment. 

Navigating these from a distance can be more challenging.Market Risk: You might not be as immediately aware of changes in the market dynamics, and reacting to market shifts can be more challenging when you're not physically present.Travel Costs and Time: Visiting your property or dealing with issues may require more time and resources, especially if it's a considerable distance away.In summary, investing out-of-state offers the potential for diversification and higher returns, but it requires careful planning, reliance on local experts, and a willingness to adapt to different market dynamics.

There is going to be a major shift into 2024 where many agents are going to be forced into retirement.