a lot of new investors pick the cheapest markets in the country regardless of how far away they are, and how much knowledge they have of them, and I think that's a huge mistake. 

As far as investing out of state goes, I would pick something you can drive to in 4 hrs or less.

I would pick a major tourist destination where it wasn't saturated with STR's already.That would take some research but you could google top vacation destinations and find a place you would go on vacation.

anyone can buy a bad deal - just go on Zillow and pick the first property you see and buy it. 

Thank you for the feedback Russell, I am definitely hoping it picks back up in the spring.

I've done quite a few 1031's and each time I had my three targets already picked which means they were less than two weeks from being signed when I closed on my downleg. 

The demographics and map data don't take the students into account, but they're really what's driving the market.Low property values and ever-increasing student rents are a recipe for a market when you can pick up a duplex in decent condition for $150k, and rent it for $500/bed (that's an EGI of $36,000 annually for a 3/3 duplex).

I've taken a couple real estate courses but Big Pockets is the best and I have been binge watching for the last 2 weeks and im super excited to start investing im looking to do the Brrrr strategy and looking to pick up small multi family properties and possibly off market flips. 

Does everyone else find it odd that @Dutch Mendenhall has been an active participant on this site for years and he goes silent while @Brent Mendenhall picks up the pieces? 

I picked Las Vegas because it’s close to me and California is out of reach.