You will probably have more of them here than most places so ask them what was involved and how long it took.

And having a property manager does not mean that you’re not directly involved with a lot of issues with your properties.Given your situation I might rather suggest a REIT investment where you get exposure to the category, but not have to deal with such a large portfolio, or just get your feet wet and see if you like being a landlord by buying a couple of properties  Randy  

What other kinds of loans or financing strategies are available that don't involve using too much of your own cash?

As others have said, you will get lent more money usually with rehab involved than on a straight acquisition loan.

A lot of it has to do with location and time.If they are local owners looking at 1-2 LTR properties, I'll assist with identifying cash flowing/near cash flowing properties, assist them in the purchase as their buyers agent and assist with tenant procurement, listing, etc. but they can typically handle day to day management from there.Furnished properties, whether that be MTR or STR, are a lot more involved, as I'm sure you're aware of!

I have been working with my contractor about 23 years now and when we get involved in a project I go to the site at least 4-5 times per week.

Obviously you can maintain a stronger presence and level of involvement investing in properties near you.

We are experienced and have never involved anyone in our projects and have never used a loan outside of a conventional mortgage.

I recommend reviewing your local laws to understand the requirements involved.

Investing close to home allows you to gain hands-on experience, learn the ropes, and be more involved in the day-to-day.