We are out of state (California) and would love to save 20% per month by forgoing property management.

Good luck in your research and I commend you for going about it the right way.

So what would should I go for ? Go

I can get by for $20k renovation if I forgo the windows.

It is then in their hands to work a deal with the realtor for going with your offer.

But access to capital is key for going bigger.

Given you have so many things going on simultaneously, no one would/should fault you for going the safe route of securing a primary residence first.

Those 'pocket' deals that you might miss from an unethical seller's agent that puts his own interest above that of his clients interest are not worth forgoing a  relationship with a good agent for the buyer.

Finding a team is very crucial for going outside your stomping ground.

In order to to do so I'd have to forgo multiple months of rent until it gets resolved (you can't evict and accept rent) and there isn't even a strong guarantee that I would win (CA is a tenant-siding state).