How important is it to have something that is beachfront or very close versus a property that is roughly within walking distance (under a mile to the beach)? 

A lender wants to make sure you are making money, so they are returned the borrowed funds.2) Make sure the property is driving distance to where you live.

That way you don't buy a triplex and decide you hate the company you work for and you get a new job an hour away and have that long commute.

Hey BP, I have a family member in my community who's planning on leaving their property in a few months due to work commute and affordability.

I've actually driven by a few of these on daily commutes.

For me its realatviley close to my primary location which I would like to be in decent driving distance for out of state investments.

For example, I can get up-to-date pictures of a property (with time stamp on it) for as low as 10$ in 24 hours, most of the time it is more expensive to grab your car and go there in person if you also count your time invested. there is a great book called "long-distance real estate investing" by David Green (you can find it in BP book store or on Amazon) which goes over a lot of those services and find solutions to long distancing investing.

However as I am looking for my next property, if I buy to live in, I know I will take a hit and be negative cash flow for a few years but if I buy an investment property I would go a little outside the city/in commuter towns most likely. 

Probably not easy for long distance. 

Partnering with a good property management company can help you handle the distance, but be careful with tax’s material participation rules if you expect tax savings.Sticking local is convenient, but branching out might give you better opportunities to meet your financial goals.