Invest locally in LA or out of state?
Hello,
I live in LA and I managed to save up about $230k-250k in my real estate investment account. Is buying a duplex (or triplex if i can find/afford one) with the intention of living in one unit and renting out the other (i imagine both units would rent for a total of $6k) better than if i were to buy a rental property out of state? My concern with buying in la is that the property won't cashflow (cost > rent) but should i even be concerned with that if i plan to live in one of those units? I pay $3400 for rent now and that would be abuot half of the costs but i dont think anyone would rent those units for $3400. I would also prefer to buy and hold versus living in it for two years and then selling it without capital gains tax, i think.
Should i go out of state and find something in like OK for $100k purchase price?