If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Keep in mind the private lender is probably going to want a second mortgage for the investment so you'll have to address that paperwork.  

You keep a fractional reserve, plus credit reserves, plus liquid assets, and the rest of the capital goes into the real estate deals that really drive the return for you.

I go pheasant hunting in some very out of the way places and there are windmills that keep water troughs for cattle full.  

Just keep pushing, we have found money just finds us now.  

No matter how good your systems are you will likely end up in that city a few times per year at least, especially in the early years.With that being said, once you have your core team established in long-distance investing, it becomes much easier and problems equal google searches for vendors, phone calls and book keeping in your life (project management) vs. swinging the hammer or fixing a toilet yourself because you're forced to put those systems in place.I live in a similarly expensive city and would honestly be stoked to find a duplex in Denver for $600K!

One has to also keep in mind that it's free haha

Also the OOS investor is doing a lot better as PM services have moved up in quality a ton compared to when i was working those markets in the 2000s.. lets also keep in Mind Ohio and MIchigan got HAMMERED in the GFC the professional note buyers of defaulted notes for a few years post GFC would not even buy that paper it was so bad.

I will keep doing what the data says makes me millions.

All the while keeping within the same zip codes, school zones and not crossing any major roadways if possible.