I (24M) have an FHA mortgage on my primary residence, originated in Nov 2020 (<1 year). I live in a HCOL area, with rents nowhere near the "1% rule" and my property would not cash flow at the 1 year mark if I moved out and rented it. Because of this, moving out and house hacking a duplex/triplex in my area is probably out of the question for at least a year or 2.

In May, I will have ~$90k cash, and I'm interested in investing in properties out of state, I'm just not sure where to start as far as building my team of property managers, agents, lenders, and contractors.

For context, my fiancé (22F) and I have no debt besides our mortgage, both drive paid off cars, and all credit cards are paid off each month so we hold no balance. We are currently saving about $2-3k per month after all expenses, and we bring in ~$114k/yr combined pre-tax.

Our goals are long term growth and mostly passive income, but we're young enough to take some risk and put in the work now to set up a more passive income later.

We're really interested in the BRRRR strategy, but we're not sure if its doable long distance.

I have a good amount of family members in and around real estate that can help me understand specifics of contracts and advise me on things to look out for, but I recognize that every market is different, and what applies here might not apply where we end up investing, so it's important to me that we find quality people to work with.

Should I just start with market research, narrow in on a promising market and start googling people (agents/lenders/PMs/contractors) in that area?

What are some questions I should use to vet my team?

How much cash should we save for reserves?

If you were in my position, would you take a totally different approach? Wait the year or 2 to gain enough equity to cash flow on my primary residence and look for a multifamily in my market? REITS, Syndications? Dogecoin?

Any help is much appreciated, thanks in advance!

Edit: How/when should I go about setting up an LLC? I've seen some back and forth on whether or not an LLC is even the best way to go, or if its necessary at all, but I just want to make sure all my bases are covered.