On the other hand, overseeing a renovation is not what I've been looking for so far for lack of experience managing this type of project and also, I don't have a lot of money. 

When you have the huge population increases we have in DFW it is going to be very difficult to not have some issues with keeping the supply in line with demand.Collin County is expected to double in population from 1-1-2017 and 1-1-2030.Since many of these projects are so large when they come online there will always be hicups.

I have 2 rehab projects in Boulder county.

This is definitely below market rate (could probably rent for around $2000/month), but these are unicorn tenants and they are managing the property very well (small landscaping projects, small home improvements).The current value of the house per Zillow is $383,000.I am originally from the Bay Area so we plan to settle in Northern California once my husband is out of the Air Force in a couple of years.

Not sure if you can find an angel investor or seed capital investment group that can help you there, I suppose it depends on the type of project you will be undertaking in Nevada. 

Good cash flow, low price points, steady growth projections, and these two markets are in very different geographic regions.

Putting some things off until later in the project hoping that they will work out. 

I understand that most banks like to use this formula: (Value of home - amount owed) .8I have enough equity in the home to where 80% of the difference in value minus balance is sufficient to fund my construction project. 

As a newbie, this would not what I want to tackle.

There is no way living in Los Angeles with a wife and 2 young kids that I can reasonably afford a loan using a 50% DTI, unless I project my income to rise sharply going forward (which I will not bank on).