Personally, I still feel more comfortable with BRRRR becasue there are many uncertainties these days.

I am an out-of-state owner of a property in a D neighborhood in Raleigh.I will not be renewing current tenant's lease and I need a new property manager for the next tenant and I will probably need them to find the next tenant as well.Any recommendations for property managers comfortable w/ D neighborhoods?

That would be job 1 if I were in your shoes.  

It all depends on the client base, property details and your comfort level.

You have a 40 mile radiusor whatever you consider a comfortable distance to manage.3.

There are tons of people looking to get started investing for their future who may be more comfortable in a smaller setting.   

Depends on your comfort level with risk too.  

After you have more experience and have a certain comfort level you can go for off market purchases. 

I have talked with 3 banks and two of them basically told me that since I have no personal money going to be used in this deal( I have acquired a private loan for more than closing and down payment), then they didn't feel comfortable lending to me.

You should feel comfortable working with the sponsor and they must be willing to openly communicate with you about the deal and the investments.