Some of it may be due to your relative inexperience with construction matters, some may be due to your budget and choice criteria but no matter what the cause, you should re-think your methods (if for no other reason: your own sanity!).

Since I live in Colorado near Denver I am unsure if this tactic is the right choice given my current market and inexperience.

Due to our inexperience back then we didn't know what we were doing the whole time.

There are the perspectives of the "good sides" and "bad sides" to every city but really it boils down to what you mentioned in experience, tolerance, and your plan or program and sticking to it.

If you have to buy your property on a credit card and don't have the financial wherewithal to handle that loan, you would deserve to lose it so, instead of letting anyone make money off of your failure or mistake or inexperience, arm yourself with education and experience first. 

Just too many variables that could go wrong, and inexperience shouldn't be one of them.I'd look to friends and family first, or consider a scenario where you find and run the deal but the investor(s) hold title and potentially fund control.  

Or would a well put together packet of information be enough to convince investors and potential partners to overlook my inexperience?

That may be inexperience talking, but I'll run with it.), with plans to eventually flip and also buy&hold for cash flow/retirement.I'm looking forward to seeing what I can accomplish in this business.Best Regards,-Robert

I hope to make up what I lack in experience by learning from those who have had success in real estate investing, and also from those who have failed. here's my question: I've heard a lot of people say that you should  invest close to home, but the market that I'm in(san diego) offers little return on investment, with cap rates as low as 4% according to my calculations. where as in places  like Rochester new York I've seen cap rates as high as 18%.

Maybe that shows my inexperience.