Stick to areas with better soil conditions like Frisco, McKinney, and Rockwall, and network with local investors to learn from their experiences.

I know they have a cap at 10.We have also looked at using local banks in the area but those terms are usually 3 years arms to ten year arms and 20 year loans so it lowers cash flow significantly. 

@Jesus Gonzalez - The best way to approach this question is to talk to a mortgage broker or local bank lender.

Got to local REIA meetings or use Facebook.  

I'm not a Realtor but I follow my local market and attend meet ups.

Hopefully a local wholesaler can chime in to connect.

Quote from @Dan Hertler: I currently manage some of my out of state rentals, but would like to create my own property management business locally in New York (Long Island). 

I recommend you discuss and plan this in depth with a local lender who knows your market well. 

I'm a local real estate broker, investor, and manager (100+ rentals, mostly Airbnb/STR and multifamily).House hacking is a tried-and-true method and in Sacramento you can produce some meaningful income while enjoying the appreciation and tax benefits of owning real estate.

It feels really unethical.Your comment: "I got a call from my attorney"I'm curious, since you have legal representation that you are presumably paying for, why are you asking people you don't know, who aren't there, haven't seen the paperwork, don't know the local laws or the situation, instead of asking your attorney?