I have a question and would really appreciate your input.I’ve done a couple of fix-and-flip projects in the past using hard money lenders, but I’ve noticed that their fees and interest rates significantly cut into my profits.

The time value of money still favors acceleration, but only if you have a clear path to eventually utilizing these losses.Don't let your tax savings get trapped in passive activity loss limbo.

Milwaukee hard money lender, Mach1 Lending is providing free pizza :)Hope to connect!

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Tenants save money when using a shared meter, so there's plenty of room for error when calculating how to distribute the charges.

Quote from @Chris Garnes: Sounds like you need the money for rehab? 

Their property sat vacant for a few months while their guy "saved them money".

Multiple vehicles of storing money; fixed income, equities, crypto, alt investments, real estate, etc.What avenue makes the most sense for you to get into real estate?

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.

I'd recommend listening to this episode of BiggerPockets Money and then using the linked spreadsheet to help you decide https://www.biggerpockets.com/blog/money-572