, how much of a commute are you willing to take on?  

I am a long distance investor and the warranty service is a plus for me.

Lots of folks buying/renting there because prices are cheaper than Nashville and they commute to Cool Springs/Franklin/Nashville.  

If you'd like to save on gas then take the 95X from Downtown to Broward Blvd, its a 30-minute commute. 

I've thought about:a) Continuing to save another $50k and use $100k total as a 20% downpayment toward a $500k property in the next 2 yearsb) Buying a rental long distance in my college town back in the midwestc) Trying to pick the next "hot neighborhood" in LA, buying a house here in LA that barely cashflows and pray it goes up in value.

You need to be extra careful investing from a distance. 

I've started long distance and moving into my first investment in IN (house hacking a duplex) and so far I've been using the MLS for everything.

It's easier to keep track of homes and shorter distances to travel when you're previewing.I'm a Realtor in St Louis, Missouri.  

Depending on the time of year, return flights from Sydney to the Midwestern US can run from USD $1500 (right before Christmas last year) all the way through USD $4000 for a peak season last-minute purchase.In the end, I guess I would simply say don't underestimate the amount of time it would take or the amount of frustration an investment from such a distance can (and inevitably will) cause. 

So in the distance future if you have any questions on this market reach outBest of luck