Not sure if you're going FHA or not but I know of a loan product called Home Simple with All Western Mortgage that allows you to make a cash offer to the seller and then refi out with a conventional loan, but my understanding is it requires 5% EMD. 

We're seeing opportunities yielding 6%+ COC in the Mid-western states

The western part of Chicago has a lot going on.

I buy in western Pennsylvania near Pittsburgh so my most expensive property all in is about 200K which is a benefit not many places have but on the other hand, we don't get the appreciation wealth making that everyone else does. 

Currently looking at exploring the Midwest, Southern, and Western states for multi-family, new construction, and foreclosures. 

New Western host an REI on Tap once a quarter located in Philadelphia or Media.

In regards to the STR, I live about an hour away from mountain town markets in Western NC, and would love to start my STR investment here if the numbers make sense.

Moreover, so you're aware, national wholesale companies such as New Western will email blast deals to hundreds of people in their database.

Only way to live on rent is to pay cash and or be extremely frugal mid western rust belt type area were primary housing is very low and all other things including gas, insurance etc are much lower than us west coast folks.Nevada though to me is a smart choice to try to live on RE  prop tax's some of the lowest in the country  NO income tax  utls are low . 

OR and other Western states.