1st Property Indecision: Washington State vs TN
Hello! I'm having a very hard time getting out of this analysis paralysis regarding where to invest for my first Long Term Rental investment property (Buy and Hold intention). I'm originally from WA state, but living in Nashville since 2016. My preference would be to invest in Washington (with the hopes that we will eventually end up back there), as appreciation and demand is great...but with that, there is of course a greater barrier to entry and would require significant more capital. I am also looking at Chattanooga/ Nashville, which would be much easier to get into sooner with the current inventory and prices, and has the benefit of being local.
If you were me, would you take the easier route of initially purchasing in Chattanooga to get going, or invest more up front to get a highly appreciating property in Washington, knowing that the cash flow won't be as great (or maybe even breaking even for a few years) and I will need to save more significantly for additional properties thereafter.
I really appreciate any insight here, as I'm driving myself crazy! Thank you so much.