I recommend you consult with a lender with expertise in investing, preferably someone local to you, to discuss the lending options best suited for your goals, strategy, and tactics.

Second, that their money was invested in highly speculative start up business deals that the sponsors had no background or expertise in.  

@Heidi FahringerReal Estate Expertise - Are they familiar with real estate-specific tax strategies, such as depreciation, 1031 exchanges, and write-offs for repairs, property management, etc.?

Have you decided what sectors you will focus on? 

Expertise and Experience: Property managers have specialized knowledge in managing properties, including understanding local market trends, legal requirements, and tenant relations.

We hire the architect for his expertise on the most efficient planning of the building.

If they're located two or more counties away, their expertise in the local market may be limited.

A good EA or CPA will charge for their expertise, and it’s usually not cheap.

The expertise I have given has saved people hundreds of thousands of dollars.

Cleveland and Lubbock are both good options to explore, but also consider areas with strong job sectors, like Indianapolis or parts of the Southeast.Researching Demographics: Tools like Placer.ai, Costar, and Data USA offer insights on demographics, migration trends, income, and market growth.