If you're asking because it's going to be your first couple of problems, why not be the first couple of properties in the area where you live so I'm comfortable with and then boom then expand to another territory?

I joined this group with the hopes of starting a Real Estate Investment business soon so that I can step away from the corporate life I have lived for more than 30 years.It's time for me to try something new...oh, where to begin :) 

Despite living on the East Coast, I did Rental Arbitrage in Tempe, AZ virtually.

You're living a lot of people's dreams.

Is anyone doing a Residential Assisted Living strategy?

I met a new investor, with contracting experience, at a local real estate meet up and he is interested in doing a flip using a hard money loan, renting the property out to his girlfriend, then using a FHA loan to buy it so he can live in it.

I live in NY, and plan to invest in FL.

Assisted living, memory center, continuing care, rest home, independent living, ambulatory care are all terms for what you might be looking for. 

Do you live in the rental condo as well?

I have about 35k saved up due to still living at home.