If your income is transferable, you could get back on your feet much more quickly by moving to cheaper, less competitive market out of state.

Keep in mind a few things - many major markets currently have a glut of multifamily projects so you may be competing with large apartment complexes with amenities offering incentives in a competitive market. 

But I do appreciate r this sentiment as it does lower competition in the area :). 

With your background in real estate investment and home building, you’re already off to a strong start.As a real estate professional in DFW, I know how competitive our market can be.

The developers are building newer A class properties which leaves them out of the competition for the B-C class properties. 

Research local market rates to set competitive rents, and consider offering utilities or furnishings to attract tenants.

It’s still a competitive market, but Texas can remain a great place to buy with the right strategy.

While investing locally is usually the easiest route, SoCal can be challenging with high entry costs and competition (though it’s definitely doable!). 

I find if I do the "heavy lifting" like drawing out a system and or the floor plan of the cabin, you can find a guy to do the "official" work fast and for a cheaper price than if you sit back and do nothing.

Well you received reply's from the top heavy hitters in the passive game here on BP.choosing wisely is key as noted.. real estate debt can be a great spot for the busy professional.