In contrast I can keep an eye on my Bay Area properties, try to do a minor repair myself, etc. 

Make sure to keep an eye on property management and maintenance to maximize long-term value.

I’ve been eyeing a property but don’t know too much about this specific area - I grew up in Cincinnati but never really knew much about it. 

Then you could keep an eye on the larger house you're renting out - or vice-versa. 

The location really caught our eye—close to Uptown Charlotte, which is always a hot area.

I am a sucker for houses with character/old houses, so I had my eye on it;) How did you find this deal and how did you negotiate it?

Find a realtor that preferably has some investment experience that you get along well with and keep an eye out on sites such as realtor, craigslist, etc.

I already have my eye on 2 or 3, but I would like to find a realtor who works in the area.

My wife and I always have our eyes open for stuff there, but looks like most duplexes (what we've focused on) are horribly overpriced.

If you had eyes on the property and have a good idea on all this you can hit the HML for all the costs and take draws after the initial acquisition to do the rehab for the rest of the amount.