I am not sure if there is a niche sort of traditional lending route that could work for you.

@Kirsten Braddock  It's a matter of preference and also depends on your set up. 

Looking in the $200-$250k range, preferably SW Florida, as close to oceanfront as possible due to increased rental potential.

I prefer after expense metrics like ROI or CAP rate. 

In fact I’d say they are an advantage in my little niche because they are looked down in and few landlords will accept them so they stick it out with me and always pay because they realize they are “ damaged goods”

There are some great fun towns outside of CA of course, but depends on your lifestyle preference (and weather tolerance) as to whether or not it'd be worth the move.

With new homes the builders prefer you get a mortgage through them so they make profit from selling and your mortgage. 

Hi, This exactly is my preferred method.

Preferably the easy valley?

I'm currently considering using a management company to deal with the maintenance things because I currently work a full time job and would prefer to approach this more as an investor (at least for now).