@Jarek Chu I am an out of state investor with 20+ years at this game.  

I can only make some very broad assumptions on these based on the information provided, but based on my assumptions, these sound like non-viable projects, even before your financing issues.

You are way ahead of the game at this point. 

If you have 250k to invest you are way ahead of the game my friend.

For the past 6 months, I've been writing out a game plan for starting my RE investing career.

When all goes well things are good. 10 years ago, Investors enjoyed working with good wholesalers who would actively scout the properties desired and do all of the leg work.Over time, the ability to get involved with little or no skin in the game, the ability to make a lump sum of money quickly, and a plethora of bad information made available by people who were only after the disposable income of those who really did not have enough money to get involved in higher level RE took a good tool and exploited it.Wholesalers exploiting undereducated layman (someone who does this exclusively for a living is operating as an Agent with no licensing issues to restrain them or cause them to disclose expert status), using a lot of really distasteful tactics (like trying to wholesale deals already on the MLS, co wholesaling through a string of folks) and getting greedier and greedier as they went....That's where the stink came from. 

I am completely new to the real estate game but have been reading books for a while now and want to get started.

Reserves allow you to STAY IN THE GAME.  

You don't have a deal yet (you sent an LOI).Here are some points, in no particular order since your question and info is really broad or lacking. 

I know I'm new at this whole real estate game and I know times are tough, but I refuse to believe that this should stop me from seeking out opportunities for myself and my family.