This step involves casting a wide net to gather a diverse pool of potential sponsors.

We have areas where you can invest in homes in the $100k-$200k range and then stuff in the $1,000,000 range pretty easily in California.I work with a lot of international investors, and happy to help where I can.

These buildings typically have large rooms, wide corridors and high ceilings, making them ideal for an ALF. 

Many lenders want to see 3 or 5 exits before being wide open to financing for you.

@Garrett Brown Thanks so much for your feedback, completely agree with calling out top performers and providing a range of what properties are making in the markets. 

Good zip codes to look into for SFHs in your price range will be 45425, 45403, 45419, and 45415.I'd be glad to share a graded map of the area my team created!

Most are in the 1 to 10  million net worth range.

Conversely, someone with a smaller portfolio might have a WIDE variety of experiences and expertise in a lot of areas because they are hands-on in all aspects of investing and could give you guidance you can employ in ways that suit you best.

While the wealth of knowledge and experience on BiggerPockets is wide and deep, I would not trust a decision like this to the internet, I would ask you CPA and if you do not have one find one who specializes in this sort of thing.

The same is true for owner-financed deals on a shorter term note, in the 3-5 year range.