For a real estate investor, expanding your portfolio to properties outside of your realm of knowledge can be a daunting notion. You may, for example, be considering Memphis real estate, but you live out of the city or state. Risk is an ever-important element to investing, and deciding where to invest is paramount. So much more goes into the equation when weighing the risk of investing in out of area investment properties. One of the biggest risks revolves around property management. We will get to that in a minute. First, the decision centers on deciding if investing in another city is right and then deciding which city is best. Because real estate investing does vary by location. Not to mention, the real estate market is not the same everywhere — it varies not only by state, but by city.