Getting started in Long Distance Small Multi-family Investments
Hello Bigger Pockets!
I currently reside near Chicago Illinois. The market is currently not very forgiving for the type of properties I'm looking for. I'm looking for something similar to a 4 unit small multi-family rental property under $400,000 outside of war-zones where the property taxes aren't crippling the cash flow. Here in Chicago, if I look anywhere in Cook County, with the same parameters above, I might as well be looking for an invisible needle in a haystack the size of... Chicago. Surrounding counties have potential but still come up dry/properties get snagged before I can even read the "More info" tab.
My question is if I am looking into long distance real estate, where should I start to look? I understand some great markets are in Arizona, Florida, Texas, Oklahoma etc... but I don't know the areas well enough to decide "That's where I need to focus my attention and study". I'm currently reading some books that are helpful as to HOW to get everything started and even automated with time, but that still begs the question of WHERE to invest.
Where are you all having luck? I would prefer to start investing in markets that favor cash flow > appreciation at the moment. I would love to hear anyone's opinion on where and how you got started! Any and all information is appreciated!
Thank you for your time!