My father was a member of the IBEW out of Local 6, so I have a deep respect for your profession.Are you planning to use the BRRRR strategy on a 4-unit, or are you leaning toward a turn-key investment?

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.

. - There are cheap ways for you to enter your local market due to OO financing that is not available OOS. 

I am not sure if I should stay local to my market.

Connect with local agents, and property managers to access off-market deals and get insights on strong rental areas.Good luck!

I did not pay for the course or get any deeper because I figured 1) High return = high risk, and I am at a point where I can't afford to lose that kind of money; and 2) I didn’t see a value in a course- why not network with local investors who need down payment, and work it out directly on a deal that I could more easily underwrite?

I would talk to a local bank or mortgage broker to see what you can get for a loan first and then go from there. 

local REIA groups are filled with investors looking to buy properties.

I'm curious to dive deeper into the Santa Fe market and would love to learn from those with local experience.

Have you considered reaching out to local lenders or brokers who specialize in new construction?