Local or regional banks are definitely the way to go to finance those smaller amounts.

For example, I can see nice homes in Vallejo today going from 200K to 400K based on proximity to higher priced regions in the bay area and the underlying value of land.

Misconception, that all Fannie Mae originators/lenders have the same underwriting, they don't, they have the same initial guidelines to meet, they may also make additional requirements or have stricter underwriting for a product, that's because they are on the hook for the origination and they may not want the risk of a particular product.Wholesale mortgage bankers can also make additional requirements for originators, that is the bunch that the bank or broker sells the mortgage to on a one at a time basis, the loans may be adjusted to local or regional markets, a loan may have different terms or requirements in Cali as opposed to Mo.  

Investing close to home would be nice for several reasons, some have been pointed out in the posts here, but the plains and mid west regions offer opportunities that are much cheaper than CA and these states can provide very good cash flow opportunities as well.

That's a pretty unique question you have there. - Duplex pros: Its going to be quicker, cheaper, and save you a small chunk of change immediately due to a lower mortgage.

Construction loans are generally in the domain of the small regional lender.  

Hey guys,I have a unique opportunity to purchase a 20 unit for $350k all brick buildings from a bankruptcy.  

Having said that though, Clear Capital predicts that the Midwest will be the fastest appreciating region of the U.S. this year.

The simple fact that the 50% can move from 100% to 10% depending on a host of variables unique to each particular property makes using this rule kind of pointless in my mind. please correct me if i am wrong here.

Hi All, We have a unique situation in my community in that we have a known Guru who is running the local REI club.