Ultimately, what you said--location-- is the ultimate risk off AND reward ON play.

In the end the mortgage will still be in your name, and you're ultimately still responsible for the payments since there's a personal guarantee.  

So Peerstreet ended up foreclosing, and ultimately netted about $3 million on the subsequent property disposition. 

Agreed with above - explore every low cost option to collect, but ultimately, it is the cost of doing business. 

Your returns in investing ultimately come from exchanging terminally abundant goods (fiat dollars, debt/future fiat dollars) for terminally scarce goods (high quality, supply constrained real estate).Selling to go into cash isn’t of interest unless I have a short term need for that cash or am funding another purchase.

If im paying my agent, ultimately im increasing my purchase price, right?

I ultimately started focusing on the Midwest and have been pretty happy so far. 

However, ultimately, make sure you have a viable exit if you can come to a mutually beneficial agreement.  

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Financially, I am able to invest a few thousand, ultimately I would like to own a primary home though I am not too certain if it’d be in Las Vegas… prices are insane IMO.