Namely, transfer taxes based on the assessed property value (even if transferred for a $1) & presumably additional accountant fees related to basis. 

Attend REIA meetings not only in your target investment areas but also in regions where potential out-of-state investors are based, Use LinkedIn to connect with real estate investors and groups.Engage in real estate forums like here in BiggerPockets, where many investors, both seasoned and new, gather to discuss opportunities, seek advice, and network. 

I expect to offer to keep the rental rate the same based on the market, but know when I was a renter there was always an option to go month-to-month for a higher price. 

I would assess the risk based on the title search.

I would have to agree with all of the people that have replied to your post, and I think you may be  referring to other people's money" There is a reason that they are called private lenders, their qualification approval guidelines are based mostly on the amount of money one puts down.

I have been speaking to the folks at Hamza Invests and they are confident that it can be delivered for much less based on my land costs but I don't want to fork over the money for their program and find out my instincts were right. 

*Most* of the time it is better to start off investing someplace you know intimately than picking cities out of a hat based on statistics you read on a screen. 

Her office is based here out of Gainesvillle. 

U know investors go for paper returns with no thought to tenant base and RISK.. no different in Vegas than in any other market.

Does your opinion change based on that?