In times of economic stress, people may not choose to vacation in Las Vegas.

Expect to spend a considerable amount of your time speaking to people.Expect to work dozens of hours/week with little to no immediate result.Expect most of your early interest from potential clients to come from your sphere of influence.Expect to go 3-6 months without getting paid (unless you do rentals which usually pay faster)Expect to be bombarded with distractions - mainly, people/companies marketing to you so that you choose their system for quick and easy buyer or seller leads.

You've also got 30k of equity in the property that you created, which you're choosing to leave tied up in exchange for that $100/mo.

Once I dominate the market and competition among buyers grow, I can increase my price and can choose my customers more selectively.

If so, you may choose to simply add it to the lease as being damaged at move-in so the tenant doesn't get charged for it when they leave.

Just choose somewhere in the mid west were 200k buys you a very nice livable home.

Use private money lenders and choose a conservative market.

But after helping many people house hack, I’d still choose house hacking over a live-in flip any day.

Also, if you're working with a local bank, theyre likely choosing not to originate  Conventional loans for investment properties and to only offer commercial loans that they hold on their balance sheet, which are subject to their own internal credit policies.

I'd suggest choosing an area that looks like it has potential and then spend your spare time just driving around.