Tough market for sure, but we have time and wanted to be within driving distance for our first property.

Setting some constraints, like gross yields between 10%-15% and elevated appreciation over the 5-year and 10-year moving annualized rates, you'll find zip codes with promising price indexes and appreciation momentum (indicating the expansion phase in the cycle) over their moving averages. 

There are very nice four-plexes within walking distance to 10/10 rated schools, walking trails, and playgrounds where I live. 

Right now we are exploring the Des Moines and Waterloo Iowa markets to learn how to do this at a distance with lower cost properties if that makes sense.

The investment thesis into multifamily is as strong as it ever was, homeownership is increasingly unaffordable, construction delays due to the pandemic will further add to supply constraints - increasing absorption rates, occupancy, and rent growth. 

I will only use lenders withing driving distance of me in the future.

It is 100 feet from public transportation, walking distance to the lake, and in an area that has been appreciating.

I’ve since moved to KC to also be an agent out here.Building a long distance portfolio is really no different than local with the right property manager.

However, if you want to use your money now and are open to investing elsewhere, get David Greene's "Long Distance Real Estate Investing". 

New home builders have already distanced themselves from investors as well.