Due diligence and preparation are your ways to overcome the fear.

Those of us in the southern part of the state have different obstacles but they can be overcome.

There's almost nothing so bad you can't overcome. 

I'm looking to get my first home, a primary residence, but I am looking for solutions to overcome obstacles that I will face as a self employed applicant.

Best way to overcome this fear is to see it for yourself.

My question is are their additional hurdles to overcome in order to go about this process?  

The only way to overcome fear of doing is to take immediate action. 

The arbitrary ways of describing a neighborhood create false senses of security for out-of-state investors and make it much easier for sellers to over come buyers obstacles.  

It takes really big gains outside of those two elements to overcome - which is why I was confused by Carlos comments..

You can also look at private money, investors, or partnerships for additional funding or co-signing on the lending docs using their income to qualify.Financing is an obstacle that can be overcome and should not stop one from investing.