P.S; We live in Wilmington NC so both markets would be "long distance" P.S.P.S there are no reasonably priced multi family properties local to us.

I’ve fixed leaks, change toilets and still keep going up.I’m at appoint now when I moved out, I thought I’d be making money because while I lived there  I’d be going even.

Is this a home that you are currently living in?

I live in CA and drove that route for years to visit family in Phoenix, AZ. 

We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

.: I live near Nice France half the year.

Sometimes tenants bite, sometimes they don’t, but it’s worth a shot.Owner Move-In: If you’re planning to live in one of the units, you might be able to legally take it back.

Return:Finishing the basement and adding bedrooms can add significant value, especially if your local market places a premium on additional living space.

I'd like to purchase an STR (I probably should have said that), being that I live in South Florida, Orlando isn't too far, but also not close enough that I can drop by anytime, so I thought I'd need a PM, or perhaps just a great team in place as far as a mechanic and cleaner, realtor and lender.Thanks again!  

Quote from @Tove Fox: I live in California and am interested in purchasing my first investment property in an A or B neighborhood in one of the above states, ideally under $300k.