Please let me know if you need more info to create a clearer picture.Thank you.That is actually a good question to get advice from a local estate attorney on.

I strongly recommend getting involved with your local REI meetup groups so you can work out your pitch with help from other landlords.I hope this doesn't come off the wrong way without tone or facial expressions behind it. 

I am not sure if I should stay local to my market.

I'm curious to dive deeper into the Santa Fe market and would love to learn from those with local experience.

Then, start building your connection with local agents, contractors and property managers.2. 

Network with your local market experts and see how people are making $.

There are many local real estate investor groups or associations.

If you can invest locally, I'd recommend doing that before investing out of state.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Is there anyone in your local market you could take out to lunch who does flips?