TDAs offer peace of mind and a safety net, while real estate provides growth potential, tax advantages, and wealth-building opportunities.

Quote from @John Paul Palace: Our plan was to invest locally, however our market here is tough.

Happy to answer any questions and always open to any advice local experts are willing to share.  

Quote from @Dan Hertler: I currently manage some of my out of state rentals, but would like to create my own property management business locally in New York (Long Island). 

You could also check out options like Cozy or TenantCloud for similar features.When converting to LTR, just keep an eye on local rental laws, lease terms, and any rent control rules that might apply.

In one case they used a notary at the local US consulate.

Quote from @Christian Artuso: Quote from @Wale Lawal: @Christian ArtusoSince you're based in Chicago, consider networking with local investors through meetups, real estate investment groups, or BiggerPockets forums to gain insights on the best neighborhoods and strategies. 

Yeah I’d be more comfortable investing locally but I’m going to begin analyzing deals.

But being a local it seems like the prices are only going higher. 

As a first time and out of state investor, my top priorities for this first investment were (1) a property that would be quick to rent (as I didn’t have other properties to offset extended vacancy rates), and (2) a very strong local PM team that RTR had extensive success with.