One I know is based in LA as that's a huge market of course..

You avoid the tax hit, and still get the use of 75% of the equity if you do a cash out refi - (but high interest rates sort of play against that to some degree presently… but you could alway refi again down the line if rates dropped.  

We're National - I'm based in California.   

Well this is going to be more mandated by your investor base than anything a mentor can help you with (i.e. there are groups raising money targeting low double digit returns, with limited cash flow, and other groups that need to show mid-20s to get investor interest).Lastly, if you are looking at a mentorship: really hammer on HOW they will help you be successful. 

Regarding the location of the Qualified Intermediary (QI), it doesn't matter whether they are based in New Jersey, Florida, or elsewhere.

This in turn will kill your exit strategy if you are not doing your due diligence and playing conservative.

One challenge was getting the hotel occupancy up after renovation since no one had booked or stayed in years so there was no existing guest base.

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

South and South East is less expensive, but you're not going to get the appreciation and my impression is it's not as good a tenant base.

Based on how many people have moved here from other states (specifically California, Oregon, Washington, and then a few areas like NY/NJ) along with the amount of redevelopment projects and the chip factory that was put in - I think there will be further appreciation for the foreseeable future.Will Phoenix economy be depended on this chip factory?