Look at the economics / population rates & other driving factors pushing the market into the future. 

@Anthony DiSanzowhy not stay within driving distance to be hands-on? 

Not sure if it's worth it to gain the extra appreciation while also having to manage multiple properties that are a bit of a drive away and have unknown maintenance requirements.

Extending and expanding these credits could be a huge step toward addressing the affordability crisis by boosting supply in struggling areas.It’ll be interesting to see how Scott Turner builds on his past work with Opportunity Zones to drive progress. 

Alternatively, you're a 5 minute drive to the resort.

You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this. 

As high rent drives people out of homes, the community at large pays the price for homelessness and the resultant problems that accompany that experience.   

Purchase my first rental property around $500k located within 30 minute drive of my home (North of Seattle), complete my first rehab, refinance, and cash flow positively. 

I can see a lot of buyers getting the keys then driving off and never paying.. foolish foolish to be advocating that.

Choosing a location near LA, accessible by a short flight or drive, will make it easier to check on your projects.