I ask because we only buy houses around the southern US (TX,OK,AR,TN) but we're curious to know if more opportunities to buy foreclosures could potentially exist in other markets. 

•For your next purchase, check if you can leverage FHA financing again—it’s one of the most powerful ways to scale quickly.Resources to Learn More•Due on Sale Clause & LLC Transfers: Nolo.com•FHA Loan Rules for Multiple Properties: HUD Handbook 4000.1•Scaling from Single-Family to Multi-Family Investing: “The House Hacking Strategy” by Craig CurelopHope this helps!

I've done fairly big renovations where in most cases, Im replacing almost everything in/on the house.

Cash out refi only if the rental income significantly exceeds the monthly payment and you want liquidity to invest elsewhere.2.You can maybe do a HELOC if you want a smaller loan that doesn’t involve refinancing the entire house.3.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

Now, are you planning to house-hack and live in one unit, or going full rental?

If you happened to be in Jimmy’s part of Florida, and he was home, you could go over to his house, where you’d have a beer with him and personally learn “working a note” , “using recreational lots as down payments” and “real estate exchanging” right at the “masters” feet.  

Sullivan shares data on America’s Affordable Housing Crisis.

You might also consider house hacking or a local deal first to get some hands-on experience before managing remotely.

@Chad Chase - I think funding a fix and flip with a HELOC from a primary house could work.