Hey Manny I am local to salt lake city would love to connect

When considering single-family homes (SFH) or small multifamily properties, it’s important to analyze rental demand, local property values, and rental rates to ensure you’re getting strong cash flow potential.

Always recommend local (or at least some level of boots on the group).

State average homeowners insurance rates indicate the risk of natural disasters.Information Sources for Data-Driven Decision MakingUtilize these resources to gather the necessary data for your city selection process:Population Size and Growth: Wikipedia's Metropolitan Statistical Area pageAppreciation Rates by Zip Code: Zillow ResearchCrime Rate: Avoid investing in cities on this list.Comparative Homeowners Insurance: ValuePenguinProperty Taxes: LendingTree (as an indicator of overall operating costs)The Importance of Local ExpertiseWhile research and data are essential, remember that general knowledge only goes so far.

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.

When I started, I interviewed local CPAs who had other similar clients.

Then I'd push those factors out if there were no good comps.  2 miles, 6 months.  2 miles 12 months , etc.It takes some local knowledge to know when you're pushing those parameters out too far to be useful. 

Yes BofA is all over the country but if you go to your local branch it's pretty likely that loan officer and/or office wouldn't be licensed to operate in another state. 

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

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.