I think a lot of people focus on the "making money" aspect of buying real estate, but risk mitigation is just as important.

If it wasn't for the liability aspect, I probably wouldn't even most of the properties.

The challenge was learning to be knowledgeable, coachable, and intentional in every aspect of any deal.

But, living area would be defined by the local building codes, not by the Appraiser.

@Jake Drappi definently some oppurtunities in areas already mentioned, also Wellington, stay away from belle glades, numbets look great till you get to the area.Palm beach county has much fewer multi familys overall and are generally pricey, so you might have more luck in Broward.

To answer your question, I guess I was just assuming that for a lender in Utah to lend on a property out of state, using that property as collateral, that they would have to be licensed to do so in the state where the property is located.I'm new to the lending aspect, hence why I'm looking for referrals from investors on lenders that are investor friendly that they've used in the past.

Plus, the costs of moving and closing costs, of course.Not sure what your plan is for financing, but that is one of the aspects that is overlooked. 

This will help you learn the bookkeeping aspect.

if you have an additional defined pet deposit do you have to pay 5% interest? 

Obviously given my experience i'm biased, but another aspect I don't like about NYC is the ROI is often very depressed. 4-5% is a good return for your average turn key investment locally, wherein most other places in the US will exceed a minimum of 8%.