Depending on your income needs, pulling equity out and lending privately combined with a fulltime or part time job may be another option that doesnt bring as much boom or bust risk as flipping. 

My email is [email protected] again and looking forward to hearing from you!  

I sent an email to the city and received a long response.

Most out of state investors are better off just acting as private lenders, buying low cost index funds or keeping their money in HYSAs.

As noted, if your options are Reg D, private offering vs fully registered public offering, even if you are talking Pink Sheet (OTC) stocks, you have public filing costs, annual audit requirements, and likely more on-going expenses that have to be covered by the property(s) owned by the offering.  

I still have that house and it rents for a grand these days. my first house was late 70s that I bought  in those days it was 80 10 and 10  you need 10% cash and normally a private HML would give you the 10% second and bank was the first.. interest on the first was 9% second was 15%.. this was before the Carter interest rate run up.. paid 80k for it in Milpitas CA.. and it was brand new bought it from Shapel . 

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

This being said, I don't believe we'll be able to meet the income requirements to qualify for a conventional.This leads me to believe hard money or private lender is more the only option to get my foot in the door, use my business to make repairs at very good rates, build some equity then refi once the balloon is due. 

Private lenders or even creating a small syndicate with a group of investors might also be worth exploring, especially since you can point to your uncle’s track record and your own experience managing rentals as a selling point.If timing is tight, you could look into a bridge loan to secure the property while figuring out a more permanent solution.

Simple things like a branded email at your domain and a website can open a lot of doors.