The three ways to handle the risk are (1) gaining knowledge and experience in both investment in general and in the area you’re investing in specifically (2) extensive due diligence and when the inevitable bad outcomes occur despite (1) and (2) then (3) diversification.  

Should I look for specific types of properties or areas?

I’m specifically interested in properties on the north side of the city in quaint areas along the lakefront time frame is to purchase within the next 12 months.What is your budget?

Hey :)New young investor, trying to buy my first rental, the game plan is a Section 8 rental in DFW.How can I check the demand for section 8 housing in a specific zip code?

If you have a specific problem with pests, notify us.

@Joshua Wright welcome.What specific investing do you want to do?

If you don't have that, keep earning, saving, and managing the risk you take by investing in REITs (which is small but risk still exists).If you already have at least $100k to invest, and you're wondering where to start as an OOS investor, I recommend this dataset that we at BiggerPockets put together specifically for people like you and me.https://www.biggerpockets.com/resources/housing-market-data/...It contains information like job growth, population growth, and rent-price ratio for all markets to compare and contrast.

Maybe throwing out a specific post for seeking investment focused brokerages in the Long Island area on BP and see who reaches out as well :). 

Quote from @Chris Grenzig: Very location-specific.

Here's what I've learned:Inspections Are Non-Negotiable: Always get a full inspection, but don’t stop there.Plumbing & Sewer: Have the plumbing and sewer systems checked specifically, as these are common problem areas in older homes.Electrical System: If the inspector flags any electrical concerns, bring in an electrician during the inspection phase for a detailed evaluation.