Any reason to be near your property?
First some background... I've done multiple single family homes in Texas which is where i grew up but I now live in Washington. Property management company manages my residential properties in Texas and I'm a passive investor on a few apartment deals.
I am looking to do my own 10-20 unit apartment complex and the deals in Washington are not great. Also some new landlord rules up in Seattle are making it an unattractive market. Texas and a few other markets however seem more viable but i'm a tad concerned about distance. Ironically when I reflect on the fact that i have residental properties today on the other side of the country it isn't a problem at all.
What is the view here about doing your first multifamily deal in another state? Obviously i can fly in periodically for due diligence etc but do you guys/girls think it is a bad idea?