It's just too risky to have that much high cost debt at one time.

While private money isn't highly regulated at the federal level, there are subtle nuances to be aware of in each state that may trigger your loan becoming a security and then the SEC would have regulations to consider.

We would have liked to invest locally but prices here in California were too high for our budget.

I see with this with a lot of local banks or credit unions.The Banker should have walked you through the basics on County loan limts versus Jumbo &  High balance.

You can find a company that doesn't have a high spend/volume requirement and flexible pricing options based on your needs.

If you already have a group of investors you work with, understanding their capital reserves, risk tolerance, timelines on return, and various other factors to help you understand what properties will be good deals for them and should help you narrow down your scope.When thinking about what tools to use, think about what you need to get done.As a wholesaler you will need to find leads on potential investments, run numbers on investments, put together investment packages for your investors, etc.Lead Generation:- Can be done on MLS, Auction sites, etc but remember competition will be high here- Pre foreclosure lists- Drive for Dollars- Social Media Campaigns - Billboards & signsProperty / Market Due Diligence:- Bigger Pockets Tools- Air DNA- Reventure App If you would like to connect and discuss in detail I would be happy to brainstorm.Good luck

Lawyers are held to high degree of care in how the handle the business of clients. 

I see this trend increasing given SFH in immediate Bay Area won't be built or will be high priced.

Its much better for them to sell a high dollar house to a retail buyer.

Everything is highly individualistic and there isn’t a “right or wrong”, but what works best for you and your situation. 1) what is your ultimate goal for your ideal investment property?