Sounds like the only heavy con is the drawing schedule for contractors being complicated - potentially scaring them away (?).

However, taking out of state trips with them is so complicated and easier said than done. 

@Rachel Hertel very complicated situation. 

Investing out of state is a challenge in of itself, doing a 60% rehab when you don't have a team of people with knowledge really complicates things.

How do they compliment or complicate each other?

Take the risk and invest big bucks to get bigger bucks or do something minimal and get out fast with less money but also less complications?

Let me give you some background of where I am in this ever so complicated journey.       

Further complicating matters, when I sat down with my bank to discuss conventional 20% down commercial loans, they were interested, but said that I must not live in the property.

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.House hacking will complicate your tax return. 

I would also entertain the idea of investing out of state, but i'm sure it can get complicated very quickly, especially as a beginner.