If you had several successful deals under your belt and ran through the numbers on withdrawing your 401k, you would say why did I wait so long. 

It will largely depend on your budget and personal needs, but within the belt-line, Cary as long as you're reasonably close to I-40, Southwest Raleigh, anywhere West Raleigh between downtown and the airport, will serve you best. 

@George Blower - Thank you.

Probably staying in the same market until I get a little more experience under my belt 

@Daniel Swan  I am a lender who has many STR's, including AirBNB/VRBO properties and condotels, under my belt. 

I’m wanting to get a website but I’d like to have one deal under y belt before hand.

@John Pate,  @Dmitriy Fomichenko and @George Blower offer great advice - they are clearly informed on this.  10K is enough to start with, more would obviously provide better options, but it's enough to get you started. 

I hear a lot of people investing in the rust belt for cash flow, the SE for a mix of cash flow and appreciation.  

Percentages on low rent markets is never accurate.It is always a newer person who thinks "hey I'm cash flowing $XXX", until they get some time under their belt and it is half of that.

I'm wholesaling at the moment but soon will rehab and would love to have rentals under my belt.