Does anyone have any general advice for regions and cities outside of the traditional Las Vegas area?

Also, check with a CPA but you will have to report this on your taxes differently than a traditional rental.

Once the bank has it, there is no way to get access outside of the traditional process.

I used traditional financing through a local bank here in Louisiana. 

It's basically the same process as the traditional FHA loan except you have to get rehab pricing and the lender uses the Maximum Mortgage Worksheet. 

We hired a contractor that patched our recessed light box in order to have a flush ceiling a few weeks ago. 

I would visit a non-traditional mortgage originator to see what lenders he or she works with and what products they support without a DTI.Credit score will have to be > 580 and cash position will have to be enough to cover the difference between 96.5% of appraised value and sale price, plus closing costs.

Specifically, looking to build wealth/income via the 3 core benefits of RE investing: 1) cashflow (feel quite strongly that things need to cashflow neutral and more than likely positive from the onset) 2) appreciating over the long-term (I understand boom and bust cycles will come) 3) Having tenants pay down debt to create equity.Syndication - this is something I have lightly looked into but based on everything I have seen the return are good (6-10%) but not as strong as they could be if I do this myself.

I am looking for a property manager and real estate agent to help me find a light fixer of a buy and hold.

Traditional sources of financing might be a good fit.