Low cost, possibly yes, but also possibly very time consuming and that has a cost.  

It's tough to give a definitive answer without knowing your specific investment goals (cash flow, appreciation, etc.) and preferred strategies (BRRRR, wholesaling, etc.).However, since I'm a Cleveland native and active in the real estate market here, I can offer some insights on why Cleveland could be a good fit:Affordability: Compared to many other major metros, Cleveland offers a relatively low barrier to entry.

The instruments needed for the transaction will be state specific which means you should have someone from California chime in with resources who can provide low cost documents (as these will be boiler plate).

I see HELOCs as low as 7.5%, so the difference is not that significant.

The thing that would deter me from this location is a background rate of appreciation of 3.12% and low school ratings.

I personally would go that route as it would probably be less expensive. 

Quote from @Simon Walker: Quote from @Brandon Croucier: Opportunity cost is a serious expense, if they are moving slow, they are COSTING you more money than what a hard money lender might able to make you.

Quote from @Max Bellino: I’m looking for guidance on whether it’s worth opting for a rapid report for a cost segregation study, which is less expensive than a full site visit.

One more reason why people should stop looking for the easy path to building wealth.Increase earnings, reduce expenses, save, and invest.

Low risk property.