A 40k program ought to come with an ironclad guarantee that you make 6 figures by year 2 (and aren't doing something illegal/unethical) to be even minimally reasonable.  

If local deals aren’t working, try out-of-state markets or connect with local investors for fresh ideas.

I totally get it—starting in STR can be tough, especially when cold calling and emailing aren’t working.

It’s easy to find tenants, population/jobs are increasing, and property taxes/insurance aren’t skyrocketing. 

If I'm looking to househack with my family (I had a toddler and a newborn the last time we did it) I might be interested in 1/3 of these neighborhoods, of which a few will absolutely produce some income (assuming you're number's aren't ultra-conservative) upon moving in year 2-3.

I have some banking contacts in Ottumwa but they aren't interested in financing that far away.

You aren't touching anything on the Roaring Fork for almost any price, no matter the square footage.Location is king, because location equals desirability, and desirability translates into more rental demand, and in some cases, substantially more.  

Because (while I know emotions aren't supposed to lead the day on this!)

Personally at the spot I am in now I would probably pay cash, as I don't like debt and interest rates aren't that low. 

In Chicago or San Antonio, it’s a similar hustle... you build the right relationships with smaller property managers who know local investor groups, and suddenly you’re the guy who can feed them deals they never thought they’d find on BiggerPockets alone.As for the fear of getting stuck with a contract, it happens less often when you’ve done your homework on the numbers and aren’t overselling some mediocre deal.