Thanks for you input and thoughts Basit, wise heart felt words.

I know it’s hard , and I’m also young but I want to spend my money wisely and start young.

My question is, is it wise for my first investment property to be out-of-state? 

My question is, is it wise for my first investment property to be out-of-state?

@Haider Abdullah I’m wise enough not to tell you what to do but I can share our thought process as we are in a similar position.

However, due to the financial quandry that Congress is now in, for how to pay for U.S. efforts to over-come COVID-19, & which implies that Congress will devalue the U.S. dollar, to do so; it is wise to buy real estate, as one of the few things which holds its value in inflation years.

We repainted the whole unit, everything was honey oak wood-wise, so we stained the doors, updated the hardware, stained the windows, and painted the fireplace and trim white.

You are making a wise decision but definitely read the book and keep making connections in order to make educated decisions!

Because the highest ROI is about 1000 miles away from me where I own a number of properties that make a ton of moneyI tend to buy in the Southern half of the US for 3 reasons:1) you get much higher year-round occupancy rates in the South & it’s simply tough to earn a good ROI in the North if your place sits vacant for a big chunk of the year2) Culturally, the Southern half of the US seems to be a lot more accepting of STRs regulation-wise.

The way I'm thinking is that at my 32% tax bracket flipping this house will be fairly painful tax wise whereas if I put some debt on it and held it for a year then I could 1031 out of it.