It is more likely folks like the California state teachers retirement fund is not likely to go high risk REI in any big way. 

I eventually want to flip houses when I have a full time job that can fund it, but for now wholesaling seems to be the best option.

30 yearsannual taxes - SAMEannual insurance - SAMEMonthly $1967.87 - this is really too big of a bill to cover, but not if I could supplement some funds from a renter of my current home.Current home costs me $480/month and that includes taxes and insurance - with increase to a 6%tax rate lets say it now costs me $600/monthI can get a reasonable $1700/month in rent for my current home.minus $600 for mortgage on current home = 1,100/month, leftover/cashflow/whatever you want to call it.New homes mortgage of 1967.87 - 1,100 (from current home rental savings) = 867.87/month out of our pocket. - this is a number that we would really love to work with each month.Scenario 1 minus Scenario 2 = a savings of 746.33/month (8,955.96/year)Now with this scenario, obviously we have the mortgage of new home offset by the rent of current home, but we don't have the money up front to do any renovations right away either.

I am currently seeking to close on an investment property but I have insufficient funds to cover all of my closing costs.

Also, keep in mind the funding fee that will be added to the loan when running your numbers.

I'm weary of starting off with a far away property.I'm generally a numbers guy (I do data science, not an accountant) so I've been trying to put together a spreadsheet of the finances to see how rental properties stack up against investing in Vangard's SP500 funds. 

If you have other assets with equity you can use HELOC for the initial purchase/rehab funds and traditional financing for the final refinance phase.Note, talk to your banker to find out their criteria for cash out refi...  

I'm interested in investing in a fund that focuses on single family homes.

In the meantime, all funds will grow on a tax deferred basis.

maybe do a JV or approach your friends/family to raise capital.