For his firm, he has chosen to be compensated by managing traditional investment portfolios, so anyone using annuities would take away from his potential AUM so he tries to attract and convert them. 

Or NV is a good choice low prop tax's and no income tax..also personally I have been looking for a summer cabin in the Sierra valley.. this is north west of Reno and one of the best kept secrets in CA. 

Both options let you buy properties without needing traditional financing.

The pre-qualification letter only says they've quickly looked at your application and think they can do the loan - not good enough in a competitive market.Some listing agents are requiring the buyer be pre-approved by the agent's lender of choice. 

For a cash-out refinance on a vacant lot, finding traditional lenders can be a bit tricky as most focus on developed properties.

Your choice should align with your financial goals and market conditions. 

Those major cities that you mentioned are fantastic options and have TONS of potential tenants/students, but their barrier of entry is much higher than traditional "college towns" like Lubbock or College Station.

We have a buyer looking to do traditional financing for each individual home as a single family residence. 

I'm wondering if others have gone this route and what their experience has been with doing things this way vs traditional booking sites? 

Downtown str's have done well and it's convenient to the front gate of NAS Pensacola but you could also consider near the beaches of Perdido Key since that is convenient to the back gate and it's a more traditional tourist destination.