Additionally, the beach is still within reach...just a short 1 hour flight or 6 hour drive.  

I work in Potomac, MD, and would like to buy a condo or apt that I can easily commute and live in, and then eventually rent out, and then buy another. 

Quote from @Unal Baris Kancoglu: I bought my first multi-family home in 2024, and I am living in it.

You're also able to work with the utility company to install an additional meter.

They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022.

I am putting in a link to something that may be help, a cost of living comparison calculator (https://www.bankrate.com/real-estate/cost-of-living-calculat...). 

If they’re underfunded, you could get hit with special assessments.Not sure about the exact contract with the tenants, but I assume if there is any additional assessment, it would be tenants’ responsibility.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space? 

As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

., so do you mean living in one state while a local PM manages a STR for you in the other state?

I love living in CA, but if you're an investor and like to have your properties in LLCs, it kind of suck. $800 yearly tax for each LLC.