Getting into RE Investing, Focus on Out of State Opportunities

[Judd Meng]

Greetings all, 

I'm just getting started in the world of RE investing in my 40s, and would love some advice or insight into out of state opportunities to open up more possibilities and flexibility for portfolio expansion. I've read multifamily millionaire, and i'm currently reading Long Distance Real Estate Investing. I know that house hacking is a very common first step into investing, but from what I understand so far, that's not possible for out of state opportunities due to occupancy requirements of the various low/no money down loans such as FHA or the VA loan (which I can get). Due to that fact, one would need a pretty significant amount of cash for a down payment to secure a more conventional loan...which I don't really have.

Is out of state investing not really in the cards for me right now? Should I look more into more creative financing such as subject to? Should I just suck it up and house hack in CO for awhile, despite really not wanting roommates or similar (I know, boo hoo)? 

Thank you for your time!