Quote from @John Friendas: Hey,My investing partner and I have reached an agreement where he would have the debt under his name and apply for it individually, and I would do the majority of the management (he is out of state and my income is half his).

I say that because every decent legit place I know of in market, yes offers the option of doing just tenant placement, for self-managing. 

The Property Manager usually does light cleaning and repairs between tenants.Recommendations or another way to think about this? 

“it is VERY hard to screw up when buying i.e. a duplex in good condition in a desirable neighborhood and either self-manages or hire a quality PM to manage.”excellent point 

I'm a broker and property manager.

@Colin Ford recommend getting experience with your RI duplex before going OOS.You should DIY manage the unit next door, so you LEARN about property management, the goog, the bad and the ugly.Then you'll be so much better prepared to invest OOS!

Meet with financial advisers/wealth managers and see what other options other than real estate there are and how to best allocate / diversify. ie have you maxed out your TFSA?

The same is true with property management.

If you move, renting in NYC and buying an out-of-state property could work, but make sure you have a solid plan for managing it.If you stay, buying in an affordable market and living there for a while could be a good option.

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.