I also got feedback from two local Indy investors before submitting any offers. 

Good Morning Edward, Have you spoken with any local lenders down here on the Outer Banks?  

It is the tenant's responsibility to ensure that the unit is installed, maintained, and operated in accordance with all manufacturer guidelines and local regulations.

Local banks would be your next bet if you want something competitive but you would run into the same issues with loan value.

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

@David Yonwook Chung check out some local meet-ups in the OC.OCREIN - Unlock Your Real Estate Success: Stand Up and Connect!

We are not local so we will be managing this property remotely.

I recently got to know another local flipper and he informed me of a private lender he works with that covers 100% of the acquistion cost and charges 1.5 points and 13.5% (no rehab cost covered).

To my surprise, the owner is also a local councilman and recently faced many lawsuit charges.

I would also recommend going to some local RE meetups in your area.