local or out of state

I live in LA and my question for everyone is, should i invest local( within 30 driving) or out of state like L.V. T.X and etc. I’m looking for cash flow and its nearly impossible to find any deals with conventional financing. some may recommend riverside or places that are 1 to 2hr drive. i would still have to hire a manager and not get good ROI compare to out of state. I would like to keep all my investments long long term. i have some intvestments outside of my area and from my experience the cost of hiring professional handyman and others( not property mananger) brings my ROI down to even or negative over the years.

Any advice is greatly appreciated

There are people making money renting there. I would find out what they are doing and do that. There should be a real estate investors club near you. I would go there and find people that are like me and do what they are doing. I say like me in that they have the things I want as far as long term rentals and mimic them. http://www.reiclub.com/real-estate-clubs/California.html

Nobody will take care of your property as well as you do yourself. Thus local is best.

However, if you are going to use managers, I can’t see any advantage to nearby as opposed to states away.

Be very thorough with screening your management company. There are a lot of bad managers out there.