@Matthew Irish-Jonesyes! 

The trick is being able to afford to live while investing in those markets and understanding perhaps a different culture than you're used to - different types of tenants/buyers, etc.I research a lot because I'm a researchaholic, and the thing I'd caution you about investing out of state is to really look at the property tax and how often your property can be reassessed and by how much. 

I'll just mention that different regions can have different cultures and ways of operating and communicating, etc., that can add to a learning curve. 

It's almost a cultural gap! 

He is a piece of crap human being...It's American culture.

@Matthew Irish-JonesMy plan would be just a rental as I’m not too confident in the idea of using it as an Air BNB but admittedly I know very little about that part of RE.I would prefer to start as a rental and possibly switch to an Air BNB once I get more properties or understand that world better.

You need to know the cultures involved, the income levels involved, who would be likely to rent your unit and what they would do with it and how likely they are to stay and not cause problems.There is no mathematical formula that figures that into the equation, so to speak. 

@Matthew Irish-Jones is exactly right. 

I myself started in international banking; shortly thereafter decided that the income potential of banking was too limited with the “climb” too slow and the corporate culture too limiting.  

-Culture of the group - this is established by the leader.