Here’s a breakdown of the main ways investors fund their first deal while minimizing their own cash outlay:1.Private Money & Hard Money Loans– These lenders focus more on the deal than on your personal finances.

Recently came across a lake house which we would like to rent out for weddings and event venues.

Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.

Are you able to go there in person to build your network? 

I personally would recommend the last method.

I'll let others chime in on their experiences, but from a motivational perspective, I think attending live events and getting the "conference high" is something that only happens through in-person connections and being in the same room with investors who are eagerly pursuing their real estate/financial goals. 

So they price those homes at what a willing homeowner will pay for their personal residence.

Of course most GPs have personally put in money to keep the deals from sinking.

Personal Guarantee: Will you require this?

I personally will try to avoid buying a home under 1000 square feet again.