I am above 50% on standard Visa/MC, below 50% on Amex, and about 0% with anything that is like a local credit unions. 

They are heavily capitalized and ready to do the work to find the right deal and work with local & reputable agents.

Good to hear from someone local to the Milwaukee area the reality on the ground.

By private money, Im assuming you mean local people lending out their IRA funds and personal funds.

Michael - while there may be great local CPAs, you can open up your pool of CPAs that can help you by working remotely.

I was not finding viable local fix-n-flip candidates in my area and I had read a book from BiggerPockets on out of state property fix-n-flips. 

Been getting nowhere with zoning laws found online and in the local library for Yonkers (in westchester county) as to whether any permits are needed in order to operate such a business. 

Quote from @Stuart Udis: 99.9% of investors who are chasing the 1% rule are solely focused on cash flow and spend no time whatsoever analyzing markets based on fundamentals.I agree, BUT 95% of investors aren't interested in analyzing markets as they invest local to where they live!

I would go to the big bus tour events in Irvine CA. what was happening was there was a turnkey operator that was allowed to offer their product at the end of the Seminar ..

Then determine if a long distance property is better or a local house hack.