I don't believe "waiting it out" is an effective strategy.

The key is to pick the right out of state market.

Does anyone have recent experience in markets in any of these states they can share?

Hello BP community,I am an out-of-state landlord with a rental property in Bluffton SC.

@Denise Lang Starting your real estate investing journey out of state can be strategic given California's high costs and tenant-friendly laws.

I’ve worked with several first-time investors, including out-of-state buyers like yourself, and it’s 100% possible to build a successful short-term rental (STR) business even when you’re managing remotely.

Many Realtors will suggest purchasing a property using a FHA Loan, to reduce your out of pocket money.

If you're investing in real estate out of your home state don't you have, at minimum, a Realtor, Contractor, Property Manager, Lawyer, etc. in the state where you're looking to create a local presence?

But, they have ZERO liability for the performance of that tenant.Second, 97%+ have no idea on how to screen a tenant, other than income = 3x rent and a credit score.

That's exactly the strat for now, some more Airbnb's and a House Hack for the first half of the year but a House Hack DP in NJ is still 5x more than a DP on a SFH out of state in some markets.