New Investor - Asking for some guidance

Member since 2026 · 1 post · 9 votes

Hello!

I live in Orlando, and my wife and I are looking to buy our first rental property. We don't have any experience in rental property investing. We are hoping to start with either a single family home or a duplex to buy and hold. We are not needing immediate cash flow, so we are looking more for appreciation even if it's slow.

The properties in Central Florida seemed to be priced at amounts that are difficult to buy for long term rentals and we can break even. So, we were thinking if it was a good idea to look at out of state properties that seem to be priced lower and the rent seems to cover the costs and actually make a little bit of profit.

Also, can someone provide advice if they have worked with out of state properties, how they find good agents to work with and how they manage the properties?

Thank you so much!

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Dean HarrisBusiness Member

Real Estate Agent · Memphis, TN · Member since 2015 · 1k+ posts · 1k+ votes

5mo

Hi @Gutierrez Martinez

I invest in Memphis TN (76 SF Properties currently) and I also assist buyers to build a rental portfolios here as well. I am seeing a really good rush of 1% rule properties here that are in really good shape. Some need under $5,000 and they are under market value by 10% in most cases (Not my listings). I chose to start investing here in 2015 personally after years of selling the product here in Memphis due to the cash flow and we see it available everyday

My podcast that I have hosted for 9 years is a great tool to learn about Memphis. You can find it wherever you listen or watch podcast by searching The Investors Guide To Memphis Real Estate. You can watch us on Youtube and Facebook!

Best of luck to you and I'm happy to answer any questions based on my personal investing experience here in Memphis.

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John Walbridge
Property Manager · Maitland, FL · Member since 2026 · 49 posts · 37 votes
5mo
Hey @Gutierrez Martinez! Welcome to the journey — super exciting that you and your wife are getting started!

Honestly, my advice would be to start local. Central Florida has great

pockets that still make sense for buy-and-hold, especially if

appreciation is your main goal. St. Cloud, Osceola County, even parts of

Orange — you can find solid deals without the headache of managing

something out of state as a first-timer.

Out-of-state can work, but it's a lot easier once you've got a system

and some experience under your belt.

As for managing remotely — that's exactly what we help people with. I'm

John Walbridge with Innovative Realty in Maitland, we've been managing

rentals across Central Florida since 2006. We handle everything: tenant

screening, maintenance, rent collection, all of it — so you're not

getting those 2am calls.

If you ever want a free rental estimate on a property you're looking at,

happy to run the numbers. No strings attached!

@Gutierrez Martinez
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
4mo
Quote from @Gutierrez Martinez:

Hello!

I live in Orlando, and my wife and I are looking to buy our first rental property. We don't have any experience in rental property investing. We are hoping to start with either a single family home or a duplex to buy and hold. We are not needing immediate cash flow, so we are looking more for appreciation even if it's slow.

The properties in Central Florida seemed to be priced at amounts that are difficult to buy for long term rentals and we can break even. So, we were thinking if it was a good idea to look at out of state properties that seem to be priced lower and the rent seems to cover the costs and actually make a little bit of profit.

Also, can someone provide advice if they have worked with out of state properties, how they find good agents to work with and how they manage the properties?

Thank you so much!

If I were in your position, I'd worry less about whether the property is in Florida or out of state and focus more on whether the investment thesis is actually stronger.
The reason I say that is a lot of investors leave expensive markets because the cash flow looks better elsewhere. Sometimes that's the right move. Sometimes they're simply trading one problem for another. A property that's 1,000 miles away and cash flows $200 per month isn't necessarily a better investment than a local property with stronger long-term demand, better appreciation potential, and easier oversight. The numbers on a spreadsheet rarely capture the operational risk of owning remotely.
What matters most here is understanding what you're trying to optimize for. If your goal is appreciation, Orlando may already be a better market than many of the cheaper areas investors chase for cash flow. Experienced investors don't compare properties. They compare risk-adjusted outcomes. The highest cash-flowing deal isn't always the best wealth-building decision.
If both properties produced the same long-term return, would you rather own the one you can drive to in 20 minutes or the one that's 1,000 miles away?
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