Hello Everyone,Seems like there is so much to say but I'll just keep it short and sweet.

Sweet!

On the other hand, there's been a boom over the last 15 or 20 years of new condos downtown and in the 3rd Ward, which are generally all pretty pricey, usually starting around $200k for a 1bed/1bath tiny unit and going up into the multi-millions in certain spots like University Club Tower where one 9000+ sq foot unit that covers an entire floor on maybe the 35th floor is appraised by the city at $13 MILLION!!!!

But BP Podcast 73 with Mehran Kamari opened my eyes to out of state investing when you're faced with a local market like LA so long as you have "boots on the ground" in the other state.For someone like me who is just starting off, with a decent income, should I go for the expensive LA rental if the numbers somehow miraculously work or is it wiser to partner and look towards out of state hot spots given the full time job situation?

Sweet!

@Sam McClellan I’m all about FHA if you don’t have a lot of capital, although it’s not as amazingly sweet as it was before they changed the length of mortgage insurance.

Now find an experienced investor willing to teach you the ropes for half of the sweet deal.Always have options.

@Robert Carlson I’m in the exact same spot.

Also, keep in mind that the lender is looking at a debt return, not an equity return.The lender is going to play the odds and allocate its capital to someone with 'skin' in the game, who will have a vested incentive to have a successful project, and hopefully has previous, successful experience - as @Neil Aggarwal notes in his reply.Best of luck finding the $0 down financing and you're spot on that you won't know absolutely unless you inquire. 

He only invests in 2 specific spots so not sure if he's done his research or what .