network network. be different. see what out there. dont be afraid to take risk and be patient

I also would like to reduce the audit risk due to large bonus depreciation. 

Quote from @Michell Chase: I am working with a hard lender on a purchase/reno and they require a builders risk policy even though 1 unit of the 3/4 will have a tenant.  

To your point, there is some risk associated with buying a note, but that is why we are selling them at least 25% under market BPO value.

It's worth comparing terms between your current lender and others to see who offers the best deal in terms of rates and fees.Purchasing a Property: Whether you purchase through regular listings, an agent, or an auction depends on your risk tolerance and expertise.

A property we recently offered $850K, thinking that was a good deal, that we pulled out of during DD due to risk on our value add, just sold off MLS at ~$720K.   

It's a high risk strategy that you've chosen. 

Pricing and risk levels are about the same for the same type of stuff in either city.

But don't risk your entire nest egg. 

Unlike investing locally, you can’t afford to take as many risks when you’re unfamiliar with the area or don’t have a trusted network yet.