You have to have confidence and the Sponsor needs to build a relationship with you if he wants to be sure you have some insights into the risks of the types of deals you would be funding. 

Trying to get a split level (not a lot of sqft) on the market in the next three weeks and trying to decide on whether to open the wall between the dining and living room for a feel of openness or leave it as I have heard from two interior designers that the open concept is on the way out as we are more at home and liking our separate areas in the home.Pragmatically speaking the opening of the wall will be mostly a time drain with it being a load bearing wall and having to support the ceiling while rebuilding and all the drywalling necessary.

So if you do decide to go out of state, would think about what product and neighborhood feel (class B, C) you want to be in. 

So not much advice, but feel free to experiment and ask your guests to give you feedback. 

And I agree you'll probably feel a lot better having your rentals in your backyard.

And he’s an electrician not someone who can lose money like that and not feel it.  

My goal is to brrrr the deal within three months, and payoff the credit card with the cash out refi.I feel like this strategy could work out in your scenario as well.

Im not an expert on title stuff, but I would not feel comfortable moving forward with the purchase if I was in your shoes based on what youve described.

I am trying to find a mentor and I feel like working for a corporate wholesaler might give me the experience I need to turn my little $175,000 chunk into a rental property business one day.

With that being said, I also feel like I have A LOT to learn still, but eager to start the process of buying my first rental property!