Hi All,I am considering distance investing due to the cost of entrance being a little high in my locale.  

Second option, if it's even valid, I could build a new house in one of these new communities and then have the house for another few months and sell it (assuming that it would have increased in value) Any input to any of these two strategies would be highly appreciated!

Zillow, Trulia seem very high!

I would highly encourage you to think about your family first. 

I am encountering roadblocks when it comes to our credit score (mine is good / his is crap), experience with flipping (I have no experience / he has 22 years of flipping experience) and the amount of cash liquidity that some of the hard money lenders want is still on the high end especially starting out.

I had a conversation not that long ago with a friend who I've known since high school. 

The taxes will be higher in Texas on property than you realize, and obviously, they are high here in Chicago as well.

I have high 800's credit score and prefer 0 points.

The cost is very high interest and origination fees.

Airbnb can provide great cash flow, especially in high-demand areas, but it requires more hands-on management.