Have invested in ABQ with first purchase in 2020 - and that was based on my knowledge as a film/TV friendly area and affordability.

From my experience, you can use that savings to house hack with an FHA loan, invest in a turnkey property in a more affordable market, or even partner with others to expand your purchasing power.

Specific topics come in waves.

Unless you want to live in that district, I would avoid any and all purchases in an area like that.

Quote from @Damon Albers: Hi, I have two houses that I purchased from Memphis Investment Properties (M.I.P.) who still manage them. 

Business loans typically won't let you purchase a property if you read the fine print.

specifically AZ, NV TX, UT, WA and CA

If your goal is passive income, it's not going to be in New Jersey when you factor in cost to purchase, management costs, and rent to price ratio, but what you can get is steady appreciation.

Purchase price: $330,000 Cash invested: $11,000 Sale price: $355,000 Fix and Flip

Purchase price: $294,500 Cash invested: $144,000 This was my first commercial MF and off market deal.