Ryan, welcome to BP.

Hard money is my obvious last choice due to the high cost.

So I don't think your con is really a con just a business choice that may be the most prudent one.

And heck, I WANT to lend my $$ to people to earn a higher rate of return, but saving $$ is certainly my first choice for the world..

Thank you Ryan ArthGood points on HOA clauses re renting!

I look forward to reading and learning about the many  facets to real estate and real estate investing.Let me know if you are in the Asheville, NC area and are looking for someone to network with.Thanks everybody,Ryan

@Ryan VienneauThank you!

There are lots of great amenities like the Zoo, Botanical Gardens - many of which include free admission for residents because of historic endowments, Forest Park is larger than Central Park, and there are so many other beautiful historic parks (Tower Grove Park, Benton Park, Lafayette Park) and a variety of unique neighborhoods that offer different lifestyle and investment choices.  

I want to get both tenants out as fast as possible because i plan on living in the top unit and remodeling the bottom unit a bit as well as getting a tenant of my choice in there.

There's no question that investing outside of your home state has more challenges but they can be overcome and sometimes you don't have any choice if your goal is cash flow and you live in a high cost market.