I have no reason to stay in Gilbert, other than it's where my family lives currently, so it's nice to be close. 

Quote from @Jemini Leckie: Hello, I am trying to understand the Orem, city code to determine if I am allowed to rent my basement ADU that I currently live in two a couple cousins and their friend.

Quote from @Keyshawn Johnson: Hi BiggerPockets Community,I’m currently living in Italy but will be moving to Florida soon, specifically to the Destin area.

When you sign almost all mortgage closing packages, you are signing an Occupancy Clause that states you are intending to live in the home for 12 months.  

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

I'd buy where you live (within an hour or so) for your 1st investment!

I'm from Newburyport and lived in Seaport for a while.

I would probably work with an attorney in North Carolina (or wherever you live) to do some estate planning since you do have young kids.

@Benjamin Goodman gives a good example referencing live in flips. 

I've lived in central Texas for 44 years and never have I replaced a roof less than 20 years old.