(Higher Cap Rates/Returns typically signify higher risk)I would recommend browsing these forums and maybe looking at a number of real estate books on Amazon before setting your outline in stone.

The track record just isn't long enough to make the lenders feel comfortable with it.I do know some who will do it putting 40 to 50% down to limit risk. I

If it's your 1st time your risk is already high and adding to it by not being close enuf to oversee just expands that risk.

Disclaimer- this path could be risky, but you could learn a lot quickly and is another option, but I'd base it on your current living and financial situation.

I am sure when you started as a real estate investor there were people that told you it was to risky or you would never make it as an investor and it's a good thing you didn't stop because of them.

Or is it too risky?

I have not reached out to any to see if they would be willing to work with me, or if I would meet the same response as I did with Wells Fargo.4) Private Lenders-- I know that private money lenders are more willing to take higher risk (ie. investing in someone with no track record or income), but at higher interest rates.5) Owner Financing-- I would imagine that it is harder to find properties where the owner is willing to finance the deal, let alone a deal that is worth doing.I would greatly appreciate advice from investors who started out young (in college) or started without any monthly income.  

The person that told you to stay away from the $50-150k range is probably making a killing in that range like everyone else .. hence they want less competition.Higher priced homes can be risky in certain areas because it leaves the end buyer with a lot of options to pick from and you might not have the edge of being the only remodeled house available in the price range.

I know this is risky, but my partner and I both have extensive construction backgrounds, and we only use quality, licensed sub's.Do we just have to bite the bullet and hire a general contractor for the project, and ourselves fall into the role of project manager?  

One of our value propositions to owners is we do not "nickel and dime" and are always looking out for the best of our clients.