The notion that venture capital money is a significant player in Bay Area RE values, expressed earlier in this thread, is a bit weak to me.Ultimately a check on Bay Area real estate values is, and will continue to be, that jumbo loans require a little more skin in the game than 3.5% down OR have terms/conditions/rates that drive away intelligent young tech workers (they tend not to be in love with over-leveraging as much as our BP community members are... especially when it's a place to live, not a pure investment). 

I understand the notion that you should invest close to home because you theoretically know the area better but First of all what does it mean to "KNOW" the area. 

When in fact there is more people that think they want or need to do this than there are deals in most markets.. and that's buy a long shot.... there are only so many FSBO's out there the rest of real estate is transacted in the RE INDUSTRY by licensed individuals who do this for a living and a career.So if people want in the industry get in the industry.... if you want to buy and sell real estate then get your money together and go forth and do that.. but to do it with no money no credit and just trying to sucker people into crappy deals I see NO honor in that.. and I see it as a huge time suck and failure for the vast majority of people who are influenced by this romantic notion that this is the way to make big money.Sure some do it NO doubt.. but then again some become sports stars and some make it big in what ever business they choose.. the cream rises to the top.. but I submit the successful wholesaler who actually makes big money is far and few between and would succeed at almost any business the tried..

Present things in such a way that you are vetting their partnership for your deal.No one likes when kids come to them with their hand out and notions of easy success, and without having put any effort into it.

I worked with him until he fired with the notion of once I get my degree ( in accounting) he would higher me again.  

Of course the notion of investing and landlording from afar feels a bit daunting to a newbie like me, but also doable with the right approach (right??). 

That is also based on the notion they never refinanced and reset the clock on the amortization.

I'm not claiming that the federal government isn't involved in our economy (far from it), but the notion that the federal government directly sets interest rates that consumers see needs to be addressed whenever I see it. :) I predict day-to-day interest rate changes based on what the radio says Wall Street is doing when I'm on the way to work, not based on what the chairwoman of the Fed is up to.The government sets the funding fee and monthly mortgage insurance rate for government loans such as VA, FHA, and USDA because it's essentially a government sponsored insurance program (think: Medicare), but not the actual note rate.

If you're not willing to do the work you should try something else.If you really are interested in doing it I would second the notion of listening to all of the Multi-family podcasts out there.

The notion of pulling out some money while still retaining the property seemed like a good idea.