I’m new here and just starting my real estate investing journey this year.I live in NY but am looking to purchase multi-unit properties (4+ units) in a growing market outside of the state.Here are a few concerns I’m working through:As a newbie, is it a good idea to buy a property out of state?

Central Florida is a solid market with strong rental demand, especially in growing areas like Orlando, Tampa, and Lakeland.Focus on building relationships with local agents, lenders, and property managers—they’ll help you identify good deals.

This is verified based on the good schools, department stores opening up (Costco, Target etc.) as well as verified investment from Jerry Jones (Dallas Cowboys owner) and the city to grow the population.

I also have a $50k line of credit I can tap into when needed that will grow as I keep growing the business.Right now my rent is about $1700 where I've been staying for over a year, but really wanting to trade that for a mortgage and start building that equity.

Our area, Destin FL. is somewhat new for AvantStay and they have had some growing pains with their resources in this area, BUT it has not impacted our experience or their quality of service.

The frustrations you are facing now will help you grow stronger as an investor.Keep pushing forward.

Duplexes or small multifamily properties, even with value-add strategies, rarely match the potential of single-family homes in the right neighborhoods.In summary:Don’t be discouraged by low cap rates—they reflect market expectations of future growth.Focus on single-family homes with high equity potential in desirable areas.Avoid chasing the "economy of scale" myth with small multifamily properties—they often come with higher turnover and lower buyer appeal.Think long-term: prioritize properties that grow in value, even if cash flow is tight at first.

I wanted to get my feet wet in the commercial space as I look to grow my portfolio and negate risk with more units.

By any chance did you grow up in/around South Memphis? 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.