Hi William..hope things worked out, we're working several small balance plexes for investors..terms are actually quite workable as rates have declined during the past two months.

Efficient closing and very workable terms.

There are very workable cash out refinances and helocs that are surprisingly easy to qualify for even on investment properties.

This might be a workable scenario for me.Lack of experience would not kill this deal for us but it would depend on a few things.Usually the biggest challenge for newer investors is in the amount of equity you have available to infuse into the project.You need to have a cash down payment to secure financing.With 25% Down you would be in a multiple financing offer situation where we're just fighting to get best deal possible and batting off Wholesale Account Execs left and right.

I will admit it can be lucrative and workable if you are an investor with pile of cash you are sitting on.

Given the extra cost, my guess is that it'll make deals in the $400K - $1M range not workable with short-term notes (with a $50K minimum, perhaps increase it). 

High level $200k for a $36k gross return is a low yield..however I think there are a few variables..with 35% down you should be able to get stronger lending terms, if the seller is workable you could entertain a concession towards a rate buy down for lower obligations, possibility to look at shorter duration (ARM) loans if you only intend to own 3-5 years which could also offer a lower rate.

Somehow I feel the even after so much of effort, it is difficult to put a system in place and have a reliable and workable model for long distance real estate investing.

I had the higher earning w2s for the most part, but was able to go full time and still have reportable income from her which made everything work. Able

Local knowledge may be very beneficial.Given that you said that house hacking is a possibility, look into marketplaces where this tactic is workable.