I would expand this to outside of your market.  

Naomi, Like you I made my money outside of real estate and only recently got in.

There are other factors that go into a decision to go outside your market as well, such as market cycle, political climate, taxes, etc.I used to own in the Bay Area and sold off my property due to the high taxes and opportunity for better returns elsewhere.Best of luck!

We only have the water company unlock the meter and never turn it on until we're inside (with someone else outside at the shutoff).

(The child’s game) I’ve got thru this experience personally in matters outside of real estate.

I specified single family because they are a dime a dozen, and in any MLS there should be good diamonds in the rough out there outside the mainstream of shiny objects being bid up above asking by desperate buyers (sometimes mispitched in listing to the wrong category by an idiot listing agent, which a good buyer agent can find and offer on as the only offer they've gotten in the past month!) 

@Matt Maitz depends on how large the property and loan size is.For larger syndicated deals you can raise the capital needed for the capital stack outside what the lender will fund. 

They both are 2 years sober and the last part of their program is finding a home to live in outside of their group experience. 

@Ryan Olsen We always underwrite our projects in their by-right scenario, and if we go outside of that we would use 3rd party planners that are aware of everything happening in that current market.

I recently graduated college and have been saving up to buy and househack a multifamily property (2-4 units) just outside the Boston area (Medford, Malden, Chelsea, Revere, Dorchester, etc..).