To offer up a personal example, I am working on a project with a 70/30 split where I took down the entitlements without any LP equity (although I did use some bridge dequity who I took out after permits were obtained) and my LP partners did not wire me funds until 2 days before the construction loan was originated.

Not sure where to start next. 

But again, Chicago is a town where if you are one block over from the good area, you can go from an A to a C crossing the street.

Hello , I’m new in real estate and thinking of buying a property in Pittsburgh, prices are about lower compared to NYC where I leave .

Would that get you where you need to be at?

I definitely think in my area, many of the good opportunities I could qualify for with my income would have pretty high rehab needs before they're rentable, so it's good to hear where you would start out instead.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

I encourage you to interview property managers to determine what their approach looks like when managing properties for an investor who does not reside in the market where the property is located. 

You got any advice on where to go to learn this?

Honestly, unless you’re in a high-end market where buyers or renters expect it, dropping thousands on a sprinkler system probably isn’t your best ROI move—especially if the property has been sitting for months.