Starting local offers hands-on experience and control, ideal for learning the ropes, while out-of-state investments can provide better returns but require a reliable property manager.

I heard when you're young, it's the best time to take risks, at job that might pay less, but offers knowledge, experience, and growth.

They will look at the ENTIRE cost of the project and calculate what they can offer you in loan amount.

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

Look at their finishes and what they offer guests, use that as your baseline, then improve upon it.

Finally found this one and took advantage of the low interest rates by winning the bidding war with an offer slightly above asking price.

What are the pros and cons of each, and which offers the least restrictions, flexibility and cost savings for my intended purposes?

Some custodians may offer access to platforms with investment opportunities, as well.

Some even offer preferred interest rates as low as 5.75% at no cost to you. 

Some cities like Atlanta, Charlotte, or parts of Texas offer cheaper homes with job opportunities nearby.If I were you, I'd focus on saving and researching markets that offer both affordability and growth.