My wife and I just closed on a duplex in Oakland, but the basement/garage was already converted into a separate living space with a bedroom and bathroom.

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.

I live in Portland  Maine , I am new to real estate investing and looking to connect with any local investor.. thank you.

I live in the Newark area.

I was thinking maybe Houston because my boyfriend lives there and I’m there a good portion of the year as is, but I’m open to any good market.

I actually live Pinellas County.  

Even though we live in earthquake country, this was a new experience for us.

Have enough that after you buy the property you still have 6 months of expenses in reserves that you can use for daily living.

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

Because if you need to live off the cash flow what you're really looking for is a business.