If your primary home is financed with an FHA mortgage and you can get a second FHA mortgage if more then 100 miles away. 

And maybe diversify a little, invest half in a low cost S&P500 fund like VOO and the split the rest across 2 or 3 syndications.

Have a timeshare or airline miles to throw in. 

Consider this: there are an estimated 10K homes in Pacific Palisades, at least half of which were destroyed. 25% were constructed during the 60-70's and +/- 75 TOTAL were built in the past FIVE years. 

We have emails, video conferences, secure portals etc etc.We do have a physical office, and half of our clients are local.

I'm a pretty big advocate for the south side of chicago where you can find properties half that value and cashflow really really well in turnkey condition. 

I would count on having at least half market rate tenants, in the event Section 8 rents are higher than market, which they are in our market (granted you will need to subtract the utilities from the rent).  

In terms of distance I will be about half hour away so not bad at all.

@Joy Daniels I have one of my STRs in that market on Anna Maria and each “city” on that 7 mile island has different STR rules.

Solo 401K, pull personal loan out at 50K or half the balance of the account, whichever is less.